November 7, 2017 |
Despite the political noise surrounding Guatemala, the country’s banks have managed to grow their loan portfolios.
Banco de los Trabajadores has been a strong player, recording a $9 million bump in net income to $37 million. But the award for the Bank of the Year in Guatemala goes to Banco Industrial, which recorded $88 million in net income in the second quarter this year, a 20.1% increase on the previous year.
Banco Industrial also increased its assets 8.6% year-on-year to $11 billion and expanded it loan book by 14% to $6.28 billion at the end of June.
Luis Jorge Sifontes, the bank’s assistant director of external financing, says Banco Industrial has worked to diversify its loan portfo
Guatemalan lender minimizes political volatility and edges out competing banks to grow assets, loans, equity and net income.