Category: Banks of the Year Awards
Posted inMagazine

Best Bank − Colombia: Banco de Bogotá

by LatinFinance Awards

Mighty Challenger
The executive suite of Banco de Bogotá’s headquarters has one of the best views of Colombia’s capital. Alejandro Figueroa Jaramillo, the bank’s president, has just delivered first half performance figures to the board, which includes members of Grupo Aval, the majority owner of the bank and Colombia’s largest financial conglomerate. As he sits down for a rare interview – his aides say Figueroa does not speak to local press – he is interrupted by an urgent note from his assistant.

Posted inMagazine

Best Bank − Chile: Banco Santander

by LatinFinance Awards

Outstripping the Population
Chile’s Santander, the country’s biggest deposit-taking bank, has seen its client base jump to three million people, an increase of 40% during the past three years. It has a network of 2,016 ATMs and 468 branches, the biggest reach in the country, according to the bank. Its total deposits amounted to $22.3 billion at the end of June.

Posted inMagazine

Best Bank − Dominican Republic: Banco Popular

by LatinFinance Awards

Welcome to the Top
Banco Popular Dominicano is beating its peers in the Dominican Republic in terms of market share by assets, surpassing even the government-backed Banco de Reservas, the previous leader. And although the economy of the Dominican Republic is seeing signs of deceleration, Popular’s non performing loans (NPLs) are at a minimum when compared to those seen in other banks operating in the country. Popular is also seeing a rise in deposits, ROA and ROE.

Posted inMagazine

Best Bank − Guatemala: Banco Industrial

by LatinFinance Awards

Big Fish
Banco Industrial’s acquisitions of Banco del Occidente in 2006, Banco del Comercio in 2007 and Banco Quetzal this year, make it king of a fragmented but quickly consolidating market. It now commands a 28% share in Guatemala, according to the bank, with assets of $5.4 billion as of June. Industrial is also the largest bank at a time when there is an investor flight to quality, says Marvin Guevara, analyst at Fitch. This has resulted in a large increase in deposits over the past two years compared to other banks, despite system-wide troubles.

Posted inMagazine

Best Bank − Jamaica: Scotiabank

by LatinFinance Awards

Finding Growth
Competition is tight at all ends of Jamaica’s banking market. The system’s two largest, Scotiabank and National Commercial Bank (NCB) were nearly level in assets as of mid-year, with 287 billion and 280 billion Jamaican dollars, respectively. Profitability was also close, with Scotia claiming an ROE of 25.61% and NCB 29.54%, as of the end of July and June, respectively

Posted inMagazine

Best Bank − Mexico: BBVA Bancomer

by LatinFinance Awards

Storm Protected
No one can yet be sure how much Mexico’s economy will suffer next year from the global credit mess and US slowdown. Over the past several years, its banks have lent ever more aggressively as they try to poach customers from each other and recruit from the lower-earning unbanked masses. A slowdown in lending is inevitable in 2009, with Fitch for one seeing growth of 5%-12%, after several years of rates above 20%.

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