Publish in Special Reports - Wednesday, August 16, 2017
Banco de Chile leads in Chile bank profits, but Banco Internacional leads in profit growth in percentage terms. (Photo: Superzerocool)
Bank profits grow in Argentina, Chile and Peru.
BY LATINVEX STAFF
Chile led the way in profit growth among Latin America’s top 150 banks, followed by Peru and Argentina, according to a Latinvex ranking based on data from Economatica.
Itau Unibanco, Latin America’s and Brazil’s largest private bank, posted the strongest real growth in profits, while Chile-based Banco Internacional, saw the strongest percentage growth.
Chilean bank profits jumped by an average of 624 percent to $2.9 billion, continuing the trend of dramatic changes in the country’s banking sector. In 2015, bank profits decreased by an average of 628 percent to $3.1 billion.
Meanwhile, Peruvian banks saw a 32 percent jump in profits last year to $2.5 billion, while Argentine bank profits grew 26 percent to $1.6 billion.
All in all, Brazil’s top banks posted an average decline of 78 percent to $17.92 billion, while Mexican banks saw their profits decline an average of 5 percent to $8.1 billion. These figures include all Brazilian and Mexican banks on the ranking, not just the top 25 analyzed by Latinvex recently. (See Brazil Banks Most Profitable, Mexico Leads Growth).
Ranking Keywords: Banco de Credito, Bancomer, Banamex, Banco do Brasil, Bancolombia, Banorte, BBVA, Bradesco, Citibank, Deutsche Bank, HSBC, Itau Unibanco, Scotiabank