Guatemalan Banking Profits Grow by 15%

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

Wednesday, April 1, 2009

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.

The most profitable banks during the month were BAC (6.75% return on equity), Antigua Bank (5.39%) and Banrural (4.90%); the overall profitability of the system decreased by 0.15%.

The article in Prensa Libre reported that analysts expect that profits could diminish due to increases in delinquencies. From December 2007 to December 2008, the delinquency portfolio rose from 4.06% to 5.52%.

More on this topic

Salvadoran Banking Profits Down 13%

March 2009

In 2008, banking generated $128.3 million in earnings, $19.7 million less than the $148 million generated in 2007.

The statistics reported by the Salvadoran Banking Association indicated that the Industrial Bank was the one that had the most earnings last year, but it suffered a drop of $10 million in profits.

Guatemala: Banks profits total $278 million in 2008

February 2009

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

PRENSALIBRE.com 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.

Panama: Bank profits surpass $1 billion

January 2009

Up to November 2008 there was an increase of 19% compared to the same period in 2007, according to information from the Banking Superintendence.

Prensa.com reports on its website that "Under this item, the most important for any business, an upward trend has been observed since 2000, with two exceptions.

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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Asociación Guatemalteca de Exportadores -AGEXPORT-

The Guatemalan Exporters Association is a private non-profit entity, established in 1982; that represents, promotes and develops non traditional exports of Guatemalan companies.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Guatemala
Phone: (502) 2422-3400

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