Tackling Tough Times
Nov 1, 2011
Bolivia - Best Bank – Banco Mercantil Santa Cruz
It’s been a tough environment for Bolivian banks, where strong competition and increased liquidity in the financial system have resulted in a decrease in financial spreads and weaker results. But Banco Mercantil Santa Cruz (BMSC) has remained profitable despite these difficulties, maintaining its position as the country’s largest bank and expanding into different product sectors.
The bank ended the last fiscal year with deposits of $1.54 billion and a 20.69% market share. Going into 2011, BMSC decided to prioritize profitability over gaining market share through deposits....
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