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.
Category: 2009 Banks of the Year Awards
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Best Bank Venezuela: Outmaneuvering the Locals
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.
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Best Bank Panama: Proceed with Caution
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.
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Best Bank El Salvador: In Hands Less Foreign
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.
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Best Bank Costa Rica: Sweet Insulation
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.
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Best Bank Dominican Republic: Popularity Uncontested
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.
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Best Bank Ecuador: Double the Trouble
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.
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Best Bank Guatemala: Caution Prevails
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.
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Best Bank Jamaica: Safe Deposits Haven
Jamaica may have been hard hit by the global recession, but that probably ended up benefitting Scotia’s operations on the tropical island.