The banking race in Peru is a close one, and the global credit crisis appears to have done little to separate the two largest players, BBVA Continental and Banco de Credito del Peru. Backed by its parent¹s powerful network and back-office support, Continental¹s focus on profitability above size has served it well.
High inflation, a weakening currency and overt political intervention are just some of the reasons running a bank in Venezuela is more challenging than in other parts of LatAm.
Panama’s Banco General has seen its assets and deposits grow and non-performing loans drop slightly in the 12 months to June 2009, despite the global downturn.
While Banco Agrícola now belongs to Bancolombia, its new owner is keeping a respectful distance when it comes to running things, and for good reason.
Costa Rica’s government backed banks have played an important role in supporting the country’s economy, and continue to dominate at a time when private financial institutions and foreign operations may find it difficult to enter or increase share.
Banco Popular Dominicano, the second largest bank in the Dominican Republic after state-owned Banco de Reservas, with a 25% market share based on assets, is known for a conservative risk culture and adequate asset quality, according to Fitch, which assigns a AA- local rating.
The impact of the credit crisis is a theme for all LatAm banking systems, and in Ecuador there is the added question of political volatility.
Despite the economic downturn, Guatemala’s GyT Continental could see profits jump by 25% by the end of this year compared to 2008, CEO Flavio Montenegro tells LatinFinance.
The full list of 2009 winners.
Jamaica may have been hard hit by the global recession, but that probably ended up benefitting Scotia’s operations on the tropical island.