Best Bank: BGA
At the end of March 2007, BGA’s total assets stood at $919 million compared with $806 million a year previously, an increase of 14%. The loan portfolio was $666 million compared with $538 million the year before, a rise of 24%. For 2007, BGA´s budget projects business growth of about 25%. The bank expects a net income of more than $21.2 million this year, an increase of 30% on last year.
Net income for the first quarter of 20007 was $4.78 million against $3.33 million for the first quarter of 2006 or 43% higher. Its total client deposits at March 31 stood at $615.8 million against $535 million the year before, a rise of 15%.
One of the bank’s most successful products is Prestamito, a highly automated, streamlined loan product that enables the bank to respond quickly to the client’s needs. Another product that has been performing well is called Multiahorro, a savings account targeted at the low- and mid-income segments.