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Best bank: Banco Industrial |
The leading bank in Guatemala, Banco Industrial, tops the tables in terms of total deposits ($3.13 billion), total equity ($377 million) and net loan portfolio ($2.28 billion). These figures are supported by a year-on-year 52% growth in net income at the end of the first quarter of 2008. Industrial has a market share of 28.7% in terms of assets and 30% of all cheques cashed in Guatemala are processed by the bank.
Last year, Guatemala’s financial sector went through a series of mergers and acquisitions. Banco Industrial acquired Banco de Occidente, Guatemala’s sixth-largest bank at the time, and absorbed the deposits and branches of Banco de Comercio (Bancomer).