Guatemala: Banking Profits Slow Down

Growth up to May 2009 is 2.2% when compared to the same period of 2008, less than the 32.5% registered between 2007 and 2008.

Monday, July 27, 2009

According to data by the Banking Superintendence, up to May 2009, banks have increased their profits in $3.2 million.

"Directors of the top three banks of the system indicate that the drop in growth is tied to the deterioration of the loan portfolio, not in volume, but in credit requests. This is a result of the economic crisis, said the bankers", published Sigloxxi.com.

More on this topic

Profits Down at Guatemalan Banks

April 2010

Following four years of continuous growth, net profits fell to $51.2 million in the first two months of 2010.

Data from the Banking Superintendence (SB) shows that in the first two months of 2007 banks made a profit of $37 million, $54 million in 2008 and $62.3 million in 2009.

Guatemalan Credit Arrears Up 24%

August 2009

The banking system's late portfolio reached $283 million in June 2009, 24% more than the same month of 2008.

As a portion of the entire credit portfolio, late loans accounted for 3% of the total, while it was 2.5% in June 2008. Bad credits grew at a larger pace than the entire credit portfolio, which grew 5% in the last 12 months, reaching $8.856 million.

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.

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.

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