Best Bank Peru: Quality Counts
The banking race in Peru is a close one, and the global credit crisis appears to have done little to separate the two largest players, BBVA Continental and Banco de Credito del Peru. Backed by its parent¹s powerful network and back-office support, Continental¹s focus on profitability above size has served it well.
Continental still trails BCP in terms of assets $10.8 billion to $17.0 billion as of July, according to Peru's banks superintendent but has maintained superior ratios during the crisis. ROE rose to 38.3% in May from 36.2% at year-end 2008, and ROA increased to 2.6% from 2.5%, according to the banks. BCP saw ROE of 31.6%, down from 37.6% at year-end 2008, and ROA of 2.4 %, versus 2.7%, they add....
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