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Awards of Excellence

Latin American regional awards

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. It combines a competitive interest rate and a customer rewards programme.

The bank says initiatives for this year include expansion of the ATM network, a strengthening of call-centre capabilities, and the development of more products for small and medium-sized companies.

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