Best Bank Guatemala: Caution Prevails

Nov 1, 2009

Despite the economic downturn, Guatemala’s GyT Continental could see profits jump by 25% by the end of this year compared to 2008, CEO Flavio Montenegro tells LatinFinance.

The positive trend is already noticeable. “In the first quarter of this year profits grew 24% compared to the same period in 2008,” he says, adding that return on assets increased to 1.6% in June 2009 from 1.4% in June 2008 and return on equity increased to 17.3% from 16.0% in the same period.

GyT also has bragging rights when it comes to asset growth, as it beat the other major banks in the country. As of...

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