Publish in Special Reports - Monday, June 20, 2016
Scotiabank is one of the top banks in Peru in terms of income, according to a new ranking from Latinvex. Here its Lima office. (Photo: Hector Becerra)
Bank profits grow in Mexico, Chile, Colombia and Argentina
BY LATINVEX STAFF
Peruvian banks led profit growth, while Brazilian banks posted the worst performance, according to a new Latinvex ranking of Latin America’s top 150 banks based on data from Economatica.
Apart from Peru, other growth winners are banks in Argentina, Mexico and Colombia, while banks in Chile saw profits decline.
Itau Unibanco, Latin America’s and Brazil’s largest private bank, posted the strongest real growth in profits, while Banco Autofin Mexico, saw the strongest percentage growth.
All in all, Brazil’s top banks posted an average decline of 109 percent to $18.6 billion, while Mexican banks saw their profits grow an average of 20 percent to $9 billion.
Peruvian banks saw a dramatic 84 percent jump in profits last year to $2.1 billion.
Chilean bank profits fell by an average of 628 percent to $3.1 billion, while Colombian bank profits increased an average of 11 percent to $2.6 billion and Argentina bank profits grew an average of 36 percent to $1.9 billion.
Ranking keywords: Banco de Credito, Bancomer, Banamex, Banco do Brasil, Bancolombia, Banorte, BBVA, Bradesco, Citibank, Deutsche Bank, HSBC, Itau Unibanco, Scotiabank