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Best Bank: Banco Mercantil Santa Cruz |
The past 12 months have clearly shown that Banco Mercantil Santa Cruz can survive economic and political challenges. Not only has the downturn started to adversely affect trade flows from the land-locked country, but political conflicts also continue to bubble under the surface.
However, despite this dismal operating environment, Banco Mercantil has managed to generate the largest return on equity in its 104-year history of 41.87%.
It is the most profitable bank in Bolivia for the third year in a row.
As the biggest bank in Bolivia, Santa Cruz holds 20% of the loan market and 25% of the deposits market.
The bank also launched an aggressive campaign to push its Super Makro Cuenta product, a credit option linked to superstores – within two months the product had grown more than the previous three years.
In 2009, the bank aims to increase its ATM and branch network by 20%.
Santa Cruz also hopes to expand its dealings with smaller companies and entrepreneurs as well as to access the highest growth sectors of oil, agribusiness and mining.
