Guatemala: Banks profits total $278 million in 2008

According to data from the Superintendence of Banks, the banking sector earned the equivalent of 16.3% of its shareholder equity in profits.

Tuesday, February 3, 2009 reports on its website: "For each $12.71 (Q100) that the banks have in capital, last year they earned an average of $2.07 (Q16.30), according to the report for December that was published by the SIB.

The most profitable banks (compared to capital) were the Bank of Central America (BAC), which earned Q30.85, followed by the Rural Development Bank (Banrural), with Q28.02, per each Q100 of capital."

More on this topic

Acquisition of Banco Americano by Ficohsa Authorized

February 2012

The Superintendency of Banks of Guatemala, in accordance with Article 19 of the Law on Banks and financial groups, has authorized the purchase by Grupo Financiero Ficohsa of 90% of the shares of Banco Americano, S.A.

Ficohsa Financial Group (GFF) Ficohsa Bank's main shareholder, is the bank with the most capital in the Honduran financial system and Ficohsa Insurance is the largest company in Honduras in terms of net premiums and the sixth largest in Central America.

Interest Rates in Guatemala

March 2011

Business loans of more than $ 640.000 pay between 8% and 12.5%.

Business loans of less than $ 640,000 pay considerably more, between 11.3% and 34.4%.

The information comes from the monthly report generated by the Bank Superintendence of Guatemala, which for the first time includes interest rate information filtered by credit portfolio, economic activity, type of credit and rank.

Guatemalan Banking Profits Grow by 15%

April 2009

Guatemalan Banks earned $61 million in February, 15% more than the $53 million earned during the same month in 2008.

According to the general manager of Banco de los Trabajadores, Ronald Garcia, the increase in profits was due to prudence and a reduction in financial service costs: "The opening of non-traditional channels such as electronic made services less expensive," the official told the newspaper La Prensa Libre of Guatemala.

Guatemalan Banks report $292 million in earnings

December 2008

Despite the slowdown of the economy, banks reported on October 30 that they had an increase of 23% in comparison to October 2007.

The entity with the best results was Banrural, with $90 million (Q616.2 million) or an substantial increase compared tot he $73 million (Q559.3 million) recorded in the first ten months of last year.

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