There were 24 Guatemalan banks as of mid-2007, down from 34 in 2000, and the sector is ripe for further consolidation to achieve economies of scale, modernization, new products, and larger profits. For the third straight year, Banco Industrial is leading this process and wins the LatinFinance prize for Best Bank in Guatemala. After last […]
Category: 2007 Banks of the Year Awards
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Best Bank – Jamaica
National Commercial Bank (NCB) has steadily grown its lending portfolio to become Jamaica’s largest financial institution by assets in a market with some heavy foreign hitters. It has maintained an ambitious growth plan that endured a change of government and two rough hurricane seasons. Innovative capital raising strategies leave NCB poised to become a strong […]
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Best Bank – Local Investment Bank – Colombia
Bancolombia is going through a growth spurt. In the past year it has taken a significant step into the region with a sizable acquisition; boosted its balance sheet with bold debt and equity issues; led the local tranche of some of LatAm’s most high-profile privatizations, and consolidated its leading position in Colombia’s corporate and retail […]
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Best Bank – Mexico
BBVA Bancomer dominates Mexico’s retail banking landscape with its sheer size and ratios, but it has its work cut out in the rapidly expanding low income mortgage market. The subsidiary of Spain’s Grupo BBVA is using its hefty balance sheet to attract new customers across the credit spectrum, while fending off increasingly stiff competition. As […]
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Best Bank – Panama
A foreign invasion, highlighted by Citi and HSBC’s recent acquisitions, is in full swing in Panama, but the country’s oldest private bank is putting up a fight. In January, Banco General announced it would merge with Banco Continental to create the BG Financial Group. Combined, their more than $7 billion in assets make them the […]
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Best Bank – Peru
Banco de Crédito del Peru (BCP) is the most formidable retail bank in the country, thanks to a systematic charge for Peru’s underbanked population over the past years using a number of creative tactics. These have earned it geographic and demographic ubiquity, and most importantly, they position BCP for continued dominance. “BCP has been diversifying […]
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Best Bank – Puerto Rico
It’s not often a financial institution is named Best Bank during a series of downward revisions to its credit ratings. But for Puerto Rico’s Banco Popular, an exception can be made. The country’s largest bank by deposits and transaction volumes – and, incidentally, Puerto Rico’s highest rated financial institution – was downgraded in August by […]
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Best Bank – Trinidad & Tobago
Solid economic growth has fueled retail and investment banking activity in the rapidly consolidating Caribbean region. Through a clever mix of solid management and diverse business offerings, the Royal Bank of Trinidad and Tobago (RBTT) has become one of its stars. After months of negotiating with potential suitors, parent RBTT Financial was bought last month […]
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Best Bank – Venezuela
Banesco Banco Universal (BBU) has doggedly achieved dominance in Venezuela, a tricky operating environment for financial institutions, while keeping its product development. Although not the highest rated in the system, the bank continues to grow on the strength of an ample client base and competitive pricing. “It’s always been very aggressive in terms of growth,” […]
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Best Bank – Uruguay
Banco de la Republica’s new management team has exploited strong macro economic tailwinds to reap impressive growth from the biggest – and only domestic – financial institution in Uruguay. Since a new team took over in 2005, the bank’s asset base has boomed along with profitability. Assets were $6.3 billion at the end of August, […]