Best Bank Guatemala: Caution Prevails

Best Bank Guatemala: Caution Prevails

People Corporate & Sovereign Strategy

The positive trend is already noticeable. “In the first quarter of this year profits grew 24% compared to the same period in 2008,” he says, adding that return on assets increased to 1.6% in June 2009 from 1.4% in June 2008 and return on equity increased to 17.3% from 16.0% in the same period. GyT also has bragging rights when it comes to asset growth, as it beat the other major banks in the country. As of June 2009 the bank’s assets total $3.5 billion, up from $2.9 billion, a 21% increase from June 2008. Meanwhile, Banco Industrial, Guatemala’s largest bank, saw its assets grow only 7% to $4.5 billion. Banrural, the third largest bank after GyT, saw assets rise 11% to $3

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