Banking in Central America is a rapidly changing business.
Countries in the region are trading more with each other, as
well as deepening links with Colombia and the US. And the
banking landscape is being reshaped following a flurry of
acquisitions in the region by Colombian lenders taking
advantage of a European retreat. Moreover, many now expect the
region’s economic fortunes to imprive as the US
Bank of the Year, Central America: Grupo BAC Credomatic
As trade between Central American countries picks up, one bank is poised to take advantage of the growth
BAC Credomatic is noteworthy for having kept its strategy
consistent, despite the vagaries of the external
"Over the past 15 years, we’ve moved the
steering wheel a little depending on the circumstances," says
Ernesto Castegnaro, chairman of the bank. "But in general, our
idea is to develop, in all the countries, financial operations
in corporate, consumer, and mortgage lending.
"We try to keep around a third of the portfolio in each of
these areas, although occasionally we let one...
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