November 10, 2016
When the government of Bolivian President Evo Morales announced a new financial services law two years ago, the country’s banks braced for a less profitable operating environment.
The new law capped interest rates on loans to corporates at 6% and on small- and medium-sized enterprises at 7% — well below market levels. It also set minimum rates for savings accounts and term deposits, and directed banks to provide more lending to housing and other sectors.
Banco de Crédito de Bolivia, winner of this year’s LatinFinance Bank of the Year Bolivia award, took the challenge of the new restrictive regulatory environment head on, growing net profit and firmly establishing itself as one of the countr
Amid a tough regulatory environment, the institution has grown profits and assets