The Bank That Could

The Bank That Could

Peru

BBVA Banco Continental, Peru's second largest bank, is beginning to catch up with its fiercest rival, Banco de Crédito del Perú. Although locally-owned BCP is the country's largest bank, Continental has become the most profitable major bank in Peru. This, and its steady growth and rising efficiency make it LatinFinance's best bank in Peru for 2003. In the second quarter of 2003, Continental posted pre-tax profits of $20.4 million, against $8.2 million a year earlier. A return on assets of 1.05%, up from 0.93% in 2002 and 0.65% in 2001. The bank also halved its non-performing loans to 3.74% of its portfolio in June 2003, from 7.75% in June 2001. José Antonio Colomer, Continen

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