Awards for Excellence 2008: Nicaragua
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BANKING

Awards for Excellence 2008: Nicaragua

Best bank: Banco de la Produccíon

The past 12 months have not been easy for banks in Nicaragua. A surge in inflation, which peaked at 126.6% in December 2007, to one of the highest rates in the world, has adversely affected the purchasing power of banking clients across the country. This has affected the banks’ non-performing loan portfolios and has tested the strength of Nicaragua’s financial institutions.

Against this environment, Banco de la Produccíon has fared the best, with a modest total net income of $5.1 million. In March 2008, the bank’s total assets surpassed the $1 billion threshold, giving the bank a 28% market share, up from 27.6%

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