El Salvador’s Bancoagricola continues to build on its already strong record, tallying impressive numbers in the past year. 

The bank has a corner on 28.8% of deposits, at $4.19 billion, and 27.3% of loans, at $3.96 billion, in a field of 11 commercial banks. Its non-performing loans were 1.1% in June 2023, compared to 1.9% in El Salvador’s financial system. Net earnings were up 8.4%, to $146 million at the end of the first half of 2023 from a year earlier. 

The numbers translate into a return of equity of 23.22% as of June 30, up from 21.215% from 12 months ago.  

“The quality of Bancoagricola’s assets is prominent within the Salvadoran banking system. Its robust profits have been a pillar of its financial performance, coming in above the local average and its peers,” according to FitchRatings in an October report on the bank.  

The bank continues to add physical branches and digital products – 33% of its customers are fully digital – allowing it to attract new customers. It ended the second quarter of 2023 with more than 1.4 million active customers.  

Bancoagricola’s had doubled down since the pandemic on policies and programs for local industry and to strengthen its outreach to women.  

It was named best bank for industry for the 13th consecutive year by the Association of Salvadoran Industries (ASI) and boosted it presence with women. It provided close to $180 million in loans to women through its women’s leadership program in the first half of this year.  

“Our number one objective is to serve our customers and those who are not part of our bank. We are working to help build a stronger country,” Ana Cristina Arango, Bancoagricola’s VP of corporate banking, said at a recent ASI event.