Awards for Excellence 2009: Guatemala
Best Bank: Banco Industrial
Scandal and corruption have dogged Guatemala. One name that seems to have steered clear of this is Banco Industrial. As the largest bank in Guatemala, with growing operations in Honduras, Industrial has maintained strong results. A combination of the global crisis and the recent internal troubles has given Industrial a flight-to-quality advantage over its peers. In the 12 months to end March 2009, the bank’s deposit base grew by 11.5%.
To maintain good liquidity levels and cover provisions, Banco Industrial has developed strategic alliances through trade finance guarantee programmes with the Inter-American Development Bank ($40 million) and the International Finance Corporation ($25 million).