LatinFinance - November/December 2016 - 38

BANK OF THE YEAR ARGENTINA

BANCO MACRO

Investors have flocked to
the lender's shares as it
maintained an extended
run of profit growth while
the political backdrop
shifted course
Political transitions and economic
downturns in Argentina can mean bad
news for banks' balance sheets. But not
Banco Macro's.
The bank, which has posted doubledigit profit growth every quarter since
2010, continued its uninterrupted streak
of 58 consecutive profitable quarters
through June 30 this year. In the 12
months to the end of June, Macro's net
profit increased 119%. In at the second
quarter, the bank's return on equity stood
at 36.7%, compared to 31.1% during the
same period last year.
As investor sentiment towards Argentina
has shifted since President Mauricio Macri
won office last year, Macro's share price on
the New York Stock Exchange has nearly
doubled, to $80. And this year, the bank's
shares rallied 33% in dollar terms between
January and mid-October, the most among

MARCELO TRIGO,
BANCO DE CRÉDITO DE BOLIVIA

"MOVING FORWARD,
WE WANT TO FOCUS
ON TWO THINGS.
FIRST, WE WANT TO
BE KNOWN FOR THE
QUALITY OF OUR
SERVICE. AND SECOND,
WE WANT TO KEEP
WORKING INTENSELY
TO BE ABLE TO
REACH OUR CLIENTS
THROUGH DIGITAL
CHANNELS"
38 LATINFINANCE.COM - November/December 2016

Argentina's four biggest publicly traded
banks.
Steps by President Macri to resolve
a decade-long dispute with Argentina's
holdout creditors have provided a lift
to many of Argentina's banks. In April,
Fitch upgraded five Argentine financial
institutions, including Banco Macro, to B.
And Macro has signaled its plans to
grow. Already the financial agent for
four provincial governments, Macro
was among several banks that sought to
acquire Citi's retail banking business in
Argentina when it was put for sale earlier
this year. Although it ultimately missed out
on the deal, look for more opportunistic
expansion ahead. LF

BANK OF THE YEAR BOLIVIA

BANCO DE CRÉDITO DE
BOLIVIA

Amid a tough regulatory
environment, the institution has grown profits and
assets
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 smalland 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 country's
pioneering banks in a market dominated
by domestic institutions.
"It's been a challenge for the entire
banking system to adjust to these
regulations," says Marcelo Trigo, Banco de
Crédito de Bolivia's chief executive officer.
"But I would say that 2016 is shaping up to
be a very good year for us."
The bank's loan book grew 20.7%
from mid-2015 to mid-2016, compared
to system-wide growth of around 18%.

Its operations remained healthy in other
metrics, too, with return on equity growing
to 16% in the first eight months of 2016, up
from 12.5% in 2015. The lender recorded
$21.8 million in profit in the 12 months to
the end of June, a 5.9% increase from the
same period a year earlier.
Trigo says the bank has expanded its
offerings for home loans and credit cards,
moves that have helped boost profitability.
Bolivia's steady economic growth has
also provided a boon to Banco de Crédito de
Bolivia. The economy has expanded more
than 5% on average in recent years, and is
forecast to grow close to that again in 2016,
according to Economy Minister Luis Arce.
Over the last year, Banco de Crédito
de Bolivia has upgraded its branches
and worked to expand its digital banking
services.
"Moving forward, we want to focus on
two things," says Trigo. "First. we want to
be known for the quality of our service. And
second, we want to keep working intensely
to be able to reach our clients through
digital channels." LF

BANK OF THE YEAR CARIBBEAN
BANK OF THE YEAR DOMINICAN
REPUBLIC

BANRESERVAS

A shift in emphasis has
started to pay dividends,
as BanReservas fortifies its
capital base and focuses on
lending to the private sector
After Enrique Ramírez became chief
executive of BanReservas in the Dominican
Republic in 2013, the bank made
strengthening its capital structure a top
priority. As a result, between August 2014
and March 2016, BanReservas nearly tripled
its paid-in capital to $220 million, from $77
million, and increased its tier-one capital by
44%, to $500 million.
The state-owned bank also changed
the profile of its loan portfolio, revealing a
more business-oriented approach. Privatesector loans, which accounted for 30% of
BanReservas' loan book in December 2012,
rose to 81% in June this year, as the bank
kept its top spot as the largest lender in the
Dominican Republic. BanReservas held a
34.4% market share in loans and 30.9% in


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Table of Contents for the Digital Edition of LatinFinance - November/December 2016

Contents
LatinFinance - November/December 2016 - Cover1
LatinFinance - November/December 2016 - Cover2
LatinFinance - November/December 2016 - Contents
LatinFinance - November/December 2016 - 2
LatinFinance - November/December 2016 - 3
LatinFinance - November/December 2016 - 4
LatinFinance - November/December 2016 - 5
LatinFinance - November/December 2016 - 6
LatinFinance - November/December 2016 - 7
LatinFinance - November/December 2016 - 8
LatinFinance - November/December 2016 - 9
LatinFinance - November/December 2016 - 10
LatinFinance - November/December 2016 - 11
LatinFinance - November/December 2016 - 12
LatinFinance - November/December 2016 - 13
LatinFinance - November/December 2016 - 14
LatinFinance - November/December 2016 - 15
LatinFinance - November/December 2016 - 16
LatinFinance - November/December 2016 - 17
LatinFinance - November/December 2016 - 18
LatinFinance - November/December 2016 - 19
LatinFinance - November/December 2016 - 20
LatinFinance - November/December 2016 - 21
LatinFinance - November/December 2016 - 22
LatinFinance - November/December 2016 - 23
LatinFinance - November/December 2016 - 24
LatinFinance - November/December 2016 - 25
LatinFinance - November/December 2016 - 26
LatinFinance - November/December 2016 - 27
LatinFinance - November/December 2016 - 28
LatinFinance - November/December 2016 - 29
LatinFinance - November/December 2016 - 30
LatinFinance - November/December 2016 - 31
LatinFinance - November/December 2016 - 32
LatinFinance - November/December 2016 - 33
LatinFinance - November/December 2016 - 34
LatinFinance - November/December 2016 - 35
LatinFinance - November/December 2016 - 36
LatinFinance - November/December 2016 - 37
LatinFinance - November/December 2016 - 38
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LatinFinance - November/December 2016 - 40
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LatinFinance - November/December 2016 - 51
LatinFinance - November/December 2016 - 52
LatinFinance - November/December 2016 - Cover3
LatinFinance - November/December 2016 - Cover4
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