Hunting for Champions
LatinFinance picked over 20 banks across Latin America and the Caribbean as the very best in the business. This is how we chose the winners.
The most important quality we look for in selecting the
region's best banks is success in generating value for
We selected Bancolombia, Colombia's biggest bank, as
LatinFinance's Bank of the Year for 2005, because of its
remarkable progress in driving profits and margins upward in a
competitive market. Furthermore, its owner,
Medellín-based conglomerate Grupo Empresarial
Antioqueño, had the strategic vision to consolidate its
financial arm previously consisting of separate
businesses into a single group led by Bancolombia and
its CEO Jorge Londoño. Bancolombia has taken the lead in
the inexorable march toward consolidation in Colombia's
traditionally fragmented banking industry a market once
dominated by its rival Grupo Aval. It still has four separate
banks, which it essentially runs as separate operations.
Colombia matters because it is one of the few major banking
markets left in Latin America where local groups...
Already have an account?
Subscribe now for unlimited access to all current and archive news, data and market analysis.
Take a free two-week trial now for the latest news, data and market analysis.