Práctica Empresarial

Manuel Steve Gutiérrez Fernández

Práctica Empresarial

20-0537

Introduction
 In this draft I will be describing where I am completing my internship, the address of the

place where I completed it, all the details of the company, its history and time since its foundation,

all the services provided by the respective company (without exception of any). All the details of

what I do in my job and the time I spend on a daily basis, the date when I started the job and when I

will finish to complete my 250 hours. In order to ensure adherence to applicable laws and regula-

tions, the Reserve Bank of the Dominican Republic, also known as the Bank of Multiple Services or

simply Banco de Reservas, implements and develops the best possible solutions, moving forward in

accordance with generally accepted standards and taking care to strengthen its internal governance

effectively before mandates of rigor. The Reserve Bank is a financial intermediary with its own as-

sets and is endowed with legal personality, which gives it the ability to enter into contracts and

bring lawsuits in its own name. As a result, he may also be sued and will also have the authority

provided by law.It was established by Law Number 586 of October 24, 1941, and it is protected by

Law Number 6133 of December 17, 1962; it is this latter legal norm, together with all of its revi-

sions and the laws included in its statutes, that today regulates its internal administration.The Do-

minican Republic's regulations require service banks, like Banco de Reservas, to function as such.

The company is committed to providing a wide variety of banking services to both individual and

corporate customers in order to support the general population's economic growth.The Reserve

Bank of the Dominican Republic supports your company's sustainable growth by enhancing corpo-

rate governance, adhering to the rules and guidelines that govern internal governance, and promot-

ing ethical business practices. As a result, it is based on the goal of promoting actions that respond

to ethical and transparent management, implementing a control framework that is optimal for inter-

nal monitoring, and contributing to the reduction of the risk of non-compliance with the laws that

apply to the Bank and its subsidiaries while preserving the market's credibility and stakeholder trust.

Exposure
 I choose Banreservas Bank for my internship since it was one of the better pos-

sibilities I could discover, Since 1941, Banreservas has worked to improve the social

and economic situation of the nation. As the leading financial institution and a sup-

porter of social development in various productive industries for Dominicans, Ban-

reservas has earned the respect of major trade publications and investment banks

around the world. The Royal Bank of Canada, with five branches, The Bank of Nova

Scotia, with one, and Nacional City Bank of New York, with six branches each, for a

total of 12 offices, controlled the Dominican Republic's commercial banking in the

beginning of 1941.

The National City Bank of New York, founded in the Dominican Republic in

1926, and the Dominican government engaged in lengthy negotiations. The negotia-

tions came to an end with the signing of a purchase-sale agreement between the fu-

ture Banco de Reservas de la Repblica Dominicana and The National City Bank of

New York. On Friday, October 24, 1941, at 11:30 a.m., the members of the National

Congress gathered in the Chamber of Deputies to hear a message from Rafael

Leonidas Trujillo, the then-head of the Executive Power, as he deposited the draft bill

intended to establish the Reserve Bank of the Dominican Republic.

Since the moment had come to rationally structure the Dominican economy,

the banking institution would be destined to preserve the future of our independence

and financial stability.In this way, initiatives were made to encourage and stabilize

trade and the exchange of international services; to give direction and flexibility to
savings, credit, and Dominican investments; and to strengthen private initiative by

encouraging the formation of businesses that would diversify and energize produc-

tion.

The Board of Directors, which met for the first time on October 25, 1941, was

made up of the Dominicans Virgilio Álvarez Pina, as president of the Council and

who at that time was Secretary of the Treasury and Commerce; and Pedro R. Espail-

lat, until now Manager of Casa Espaillat, who took over as Vice President. Mean-

while, Anselmo Copello, former owner of the Compañía Anónima Tabacalera and

José Antonio Jiménez Álvarez, a sugar producer from San Pedro de Macorís, as well

as three North Americans, met with the functions of members. From that first session,

the first Secretary of the Council was appointed, the lawyer and intellectual Lic. Julio

Ortega Frier.

The original capital of Banreservas was one million pesos - RD$1,000,000 that

would be paid by the State. It was established that the amount signed was for five

hundred thousand pesos (RD$500,000.00). Our first offices were located in Santo

Domingo, Santiago, La Vega, Puerto Plata, Barahona and San Pedro de Macorís.

Little by little, the bank expanded its presence throughout the Republic, identi-

fying itself with the aspirations of each community and making development projects

of all kinds its own. Banreservas has been growing in unison with the country, as our

more than 250 offices eloquently demonstrate today, which have an increasingly

committed staff, backed by the most advanced banking technology.

Since its origins, the Banco de Reservas de la República Dominicana has not

only been a financial institution that has contributed exclusively to national economic
development, but also, due to its philosophy and commitment, has an outstanding

participation in the promotion of music, literature , education, sports, plastic arts, and

everything that means integral development of the human being, collaborating shoul-

der to shoulder with institutions of wide social projection at the service of the most

needy.

Banco de Reservas de la República Dominicana – Banco de Servicios Múlti-

ples was established on October 24, 1941 and its sole shareholder is the Dominican

State. Today it is positioned as the largest financial intermediation institution in the

country in terms of credit portfolio and deposits from the public, and the only one

with a coverage network that covers all the provinces of the Dominican territory.

BanReservas provides a wide range of banking services to personal and institutional

clients, both in the public and private sectors, in order to promote the economic de-

velopment of the population in general and contribute to the execution of the national

strategic plan.