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.
Category: Awards
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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.
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Best Local Investment Bank Brazil: Global Buildout
Itaú BBA’s expansion has happened at a steady clip over the past four years, and the shop poses an increasing threat to global powerhouses hoping to grab a slice of the Brazilian investment bank fee pool.
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Best Bank Puerto Rico: Reducing Risk
Oriental Financial Group may not be the largest player in Puerto Rico’s troubled banking sector, but by reducing exposure to consumer and mortgage loans, it emerges as the best of the worst.
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Best Bank Mexico: Capitalizing on Crisis
Since the collapse of Lehman, Mexican authorities have come out repeatedly to defend their nation’s banking system as competitive, profitable and well capitalized.
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Best Bank Bolivia: Still on Top
Banks operating in the smaller LatAm economies have hunkered down during the crisis and the pecking order has remained largely the same as a result. In Bolivia, the dominant bank remains Banco Mercantil Santa Cruz (BMSC).
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Best Bank Colombia: Extending Reach
Despite Colombia’s generally sturdy fundamentals during the financial crisis, its financial institutions have had to swallow their share of bitter cocktails, including isolated corporate derivative losses, toxic Lehman notes, Stanford fallout, and slowing exports to the US. An uptick in unemployment and slower economic growth also boosted defaults at the retail and corporate levels for all banks.