Best Bank - Puerto Rico
Nov 1, 2010
Puerto Rico has been suffering a recession for more than four years. Several banks have collapsed, unemployment has soared and bankruptcies have increased.
Against these rough seas, Santander’s local unit has been swimming upstream.
Assets increased to $8.8 billion in the first quarter of 2010 from $8.1 billion a year earlier. In the same period, the bank grew its return on assets (ROA) to 1.27% from zero, and its return on equity (ROE) to 14.07% from -0.02%.
However, the Spanish bank, like most large institutions in the system, is underperforming. Average ROA at Puerto Rican banks is 2.86% and average ROE is 29.43%, according to US-based business intelligence firm...
Already have an account?
Subscribe
Subscribe now for unlimited access to all current and archive news, data and market analysis.
Subscribe
Free trial
Take a free two-week trial now for the latest news, data and market analysis.
Free Trial