Banco BISA Branches Out to Overcome Challenges

Banco BISA Branches Out to Overcome Challenges

Andean

Competition with foreign banks such as Citibank and BSCH's Banco Santa Cruz have kept Banco BISA, Bolivia's largest domestically owned bank, on its toes this past year. The bank is also challenged by its clients' inability to repay loans and a nearly 25% decrease in net earnings from last year's $12.4 million. But according to BISA executive vice president José Luis Aranguren, the addition of subsidiary businesses, including asset management, brokerage services and insurance, allowed the bank to strengthen its balance sheet dramatically, despite the economic crunch in Bolivia. Assets increased more than 25% to $741 million in 2000, along with a 30% increase in deposits, which topp

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