Competition with foreign banks such as Citibank and BSCH's Banco Santa Cruz have kept Banco BISA, Bolivia's largest domestically owned bank, on its toes this past year. The bank is also challenged by its clients' inability to repay loans and a nearly 25% decrease in net earnings from last year's $12.4 million.
But according to BISA executive vice president José Luis Aranguren, the addition of subsidiary businesses, including asset management, brokerage services and insurance, allowed the bank to strengthen its balance sheet dramatically, despite...
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