Best Bank − Bolivia: Banco Mercantil Santa Cruz

Nov 1, 2008

BMSC Wrestles Conflict Banco Mercantil Santa Cruz (BMSC), Bolivia’s biggest bank, says the recent social unrest has not yet impacted on the economy or the banking system. However, the bank, which has 235,000 clients and 57 branches throughout Bolivia, believes that could change.

“The social conflicts in the country have not had an immediate effect in the economy,” Emilio Unzueta Zegarra, president of the bank, tells LatinFinance. “However, we expect that in the long run, the economy will be affected by these social conflicts. As in any country in the world, when political troubles arise, then the country as a whole is affected, not only economically but also socially.”

The bank operates in both the retail and corporate segments and plans to open eight more branches in the country by mid-November. Founded in 1905, it was the first to cover all regions of Bolivia and has branches in all nine provincial...

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