Awards of Excellence
Latin American regional awards
Best Bank: Banrural
was the most profitable bank in Guatemala in April 2007, reporting a profit of $26 million, an increase of 30% on March this year. It was followed by Banco Industrial, which made $21 million, an increase of 30% on March. In April this year, Banrural had a loan book of $1.3 billion, which had increased by $308 million or 30.4% since December. Rival bank Banco Industrial had a bigger loan book of $1.68 billion but had only seen an increase of 7.59% since December. Last year, Banrural’s profitability, as a percentage of total assets, was 1.88%.
In February this year, Banrural received a loan for $85 million from a consortium including the Inter-American Development Bank and Citi, to expand its services in rural areas.
The past year has been a turbulent one for Guatemala’s banks. In October last year, the country’s banking superintendency suspended the operations of Bancafe and, in January, those of Banco de Comercio, for breaking banking rules.