Category: 2008

Up in a Downturn
Despite an ongoing local recession that has lasted more than two years, FirstBank Puerto Rico during the past 12 months has grown assets, market share and deposits. In the near future it may continue to grow through acquisitions, but there is also a possibility that it will be swallowed by Scotiabank.

Bancolombia sees an opportunity to use local knowledge to build investment banking at a time when foreign competitors are challenged. It will also be tested.

FDI Booster
Uruguay’s Banco de la República, the country’s largest bank in terms of deposits, has started to notch up an excellent performance on the back of firm economic growth. The Uruguayan economy has been roaring ahead at more than 7% a year following the 2002 economic crisis, according to the IMF. At first, expansion in banking did not follow the economic rise, but during the past two years it has started to match it.