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"Though the GDP growth rate will slow this year I think Colombia will continue to be very profitable for banks"
Francisco Aristeguieta, Citi Colombia |
Colombia’s financial institutions continue to be in good shape. They expect record profits for 2008, despite the global turmoil. For the first seven months of 2008, the Colombian banking system reported a net profit of $1.43 billion, a 30.9% increase on the same period in 2007.
"Last year was a record year for Citi Colombia in terms of profit and growth, but we expect to close this...
