2020 Banks of the Year Awards

LatinFinance’s annual Banks of the Year awards recognize institutions that have achieved outstanding performance. This year they had the added weight of servicing their customers while also navigating a global health crisis that has sapped the strength from most economies. In making the selection, the editorial team considered the opinions of analysts, publicly available data and information from the banks themselves.

The review period runs from July 1, 2019, through June 30, 2020.

The full list of winning institutions can be found in a special Banks of the Year supplement to LatinFinance magazine.

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Award details

Click any of the sections below for more details on our 2020 Banks of the Year Awards.


The LatinFinance 2020 Banks of the Year Awards celebrate the financial institutions in Latin America and the Caribbean that best demonstrated excellence in retail, commercial and investment services in the last year. The eligibility period for the awards is based upon published results between July 1, 2019, and June 30, 2020.


The scope of this year’s award categories has been modified given the unprecedented disruption caused by the COVID-19 pandemic.

  1. Bank of the Year
  2. Bank of the Year Mexico
  3. Bank of the Year Brazil
  4. Bank of the Year Argentina
  5. Bank of the Year Colombia
  6. Bank of the Year Peru
  7. Bank of the Year Chile
  8. Bank of the Year Ecuador
  9. Bank of the Year Uruguay
  10. Bank of the Year Paraguay
  11. Bank of the Year Bolivia
  12. Bank of the Year Panama
  13. Bank of the Year Dominican Republic
  14. Bank of the Year Central America
  15. Bank of the Year Caribbean
  16. Digital Bank of the Year
  17. Sustainable Finance Bank of the Year


The 2020 Banks of the Year Awards will be judged on four factors:

  1. Required: Financial data for banks over the reference period (including but not limited to total assets, capital ratio, return on equity, return on assets).
  2. Market opinion including analyst and rating agency comment.
  3. Verifiable actions taken by the bank to meet the challenges of the COVID-19 pandemic for itself and its customers.
  4. LatinFinance editorial evaluation.

Selection process

The LatinFinance Banks of the Year Awards are decided by LatinFinance's editors, following an extensive research process. The key elements of each step of the process are outlined below.

Market opinion

LatinFinance will consult a range of market participants to gain perspective on the shortlist, including portfolio managers, credit analysts and other market participants.

Market opinions are kept strictly confidential and will not be disclosed.

Examination of financial data

LatinFinance will review official financial data for each of the shortlisted or nominated banks. As is relevant to each category, sources will include but not be limited to: materials submitted as part of the entry nomination, financial reports and accounts, company presentations, stock exchange filings and LatinFinance reporting. Data will include but not be limited to: capitalization levels, total asset numbers, return on assets, return on equity and transaction details.

Editorial evaluation

The LatinFinance editorial team will supplement its examination of financial data and information with information from bank analysts and clients. This will be sourced through a review of analyst reports and in-depth telephone interviews.

The LatinFinance editorial team retains discretion over the final allocation of awards in each category.


The ceremony to honor the award winners is TBD due to the pandemic, however a list will appear in the Q4 2020 edition of LatinFinance magazine due in December.


All entries must be submitted through the official nomination form at awards.latinfinance.com. The nomination period will close promptly at 11:59 PM EDT on Friday, August 28, 2020 (deadline extended from Sunday, August 23, 2020). Please note this new entry deadline is final. There will be no further extensions. The system will automatically prevent entry submission after the deadline.

Each nomination will require data fields to be filled in correctly before a nomination can be submitted. Failure to provide the proper information can lead to disqualification.

Each nomination will have the ability to also include additional documents to support the entry, but this does not replace filling in of the required fields with the data that is being sought for evaluation. In this special section you can provide an outline of qualitative information describing the ways your institution has grown, achieved success and stayed ahead of the competition, as well as any other relevant qualitative data the institution wants to make available for the judging process.

Required data

The following data tables must be completed for all nominations:


July 1, 2017–

June 30, 2018

July 1, 2018–

June 30, 2019

Year-over-year growth (%)

July 1, 2019–
June 30, 2020

Year-over-year growth (%)

Net profit



















June 30, 2018

June 30, 2019

Year-over-year growth (%)

June 30, 2020

Year-over-year growth (%)

Total loans












Total assets






NPLs/gross loans (%)






Tier–1 capital (%)






Additional questions for all categories

  1. How has your institution adapted to the current pandemic environment? (up to 750 words)
  2. Why do you believe that your institution is worthy of an award? (up to 1,000 words)

Additional questions for categories 16–17

Digital Bank of the Year

  • Number of customers for the awards period vs. previous period 
  • Please describe any new innovative products launched by the bank during the awards period 
  • Please tell us about one new technological application the bank introduced to service customers 
  • Please list any additional activities you want to be considered by the editorial team along with a brief explanation 

Sustainable Finance Bank  of the Year

  • Please tell us about one strategic initiative program or transformation your bank carried out during the awards period
  • Please tell us in detail about one new innovative financing product your bank launched during the awards period
  • Please list any additional activities you want to be considered by the editorial team along with a brief explanation


If you have any questions on the entry process, please email awards@latinfinance.com and put "Banks of the Year Awards" in the subject line.

Previous winners: 2021, 2022, 2019, 2018, 2017, 2016, 2015