Banco Dominicano del Progreso (BDP) is one of the Dominican Republic's largest banks. It has some 60 branches offering personal and business savings and checking accounts, loans, insurance, and credit cards. The bank also provides services for local companies doing business overseas, including money transfer services and letters of credit for import businesses. Traditionally, the bank has serviced the corporate market in the country's two largest cities Santo Domingo and Santiago. In recent years, the bank has grown as a result of mergers with other BDP-affiliated companies and the acquisition of Banco Metropolitano and Banco Intercontinental (Baninter). Banco Progreso is owned by Panamanian holding company Grupo Progreso. The company acquired Dominican bank Banco Capital in October 2011.