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Best Bank - Guatemala

Oct 31, 2007

There were 24 Guatemalan banks as of mid-2007, down from 34 in 2000, and the sector is ripe for further consolidation to achieve economies of scale, modernization, new products, and larger profits. For the third straight year, Banco Industrial is leading this process and wins the LatinFinance prize for Best Bank in Guatemala.

After last year's acquisition of Banco de Occidente, Guatemala's fifth largest financial institution, Industrial again pulled the trigger in...

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"[While] it’s good to build more infrastructure and increase investment, you have to be conscious about the macro effects of too big an increase in domestic demand, including of course public expenditure."

Julio Velarde, Peru central bank


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