LatinFinance - November/December 2016 - 46

BANK OF THE YEAR NICARAGUA

BANCO LAFISE
BANCENTRO

Capitalizing on sustained
growth in the local
economy, Lafise
Bancentro has lifted
profitability
Banco Lafise Bancentro grew profits
by 13.3% last year, reaching $40.8 million,
one of the best results in the bank's
history. The performance earned it the
award for LatinFinance's 2016 Bank of the
Year Nicaragua for the third consecutive
year.
The bank has consistently put up
impressive numbers over the last three
years, capitalizing on Nicaragua's
sustained economic growth. The
economy expanded 4.9% in 2015 and has
averaged 5.2% growth over the last five
years.
Lafise boosted its return on equity by
70 basis points, to 24.4% in the 12 months
to June. At the same time, its return on
assets rose 20 basis points, to 2.6%, and its
capital adequacy ratio improved to 12.4%,
from 12.2% a year earlier.
Lafise's assets grew 3% from June 2015
to June 2016, while its net loan portfolio
expanded by 14.1%, reaching $1.1 billion.
Some 70% of its loan portfolio is made
up of corporate and small- and medium-

sized businesses across Nicaragua's
productive sectors. More than 90% of
Lafise's lending is backed with collateral
and it has a solid fee base, drawing
on revenue from foreign exchange,
guarantees and wire transfer service fees.
Lafise's retail presence continues
to expand. The bank opened five new
branches and 48 ATMs over the last year,
bringing its total to 90 branches and 252
ATMs, the largest network in
Nicaragua. LF

confidence has soared since Peru's new
President Pedro Pablo Kuczynksi took
office earlier this year, touting an economic
agenda of accelerating infrastructure
projects, increasing credit and cutting taxes
to recalibrate the economy. That is good
news for the country's financial system in
general - and Banco de Crédito de Peru in
particular. LF

BANK OF THE YEAR PERU

FIRST CITIZENS BANK

BANCO DE CRÉDITO DE
PERU

The lender kept profits and
lending strong despite a
tough period for the local
economy

Few banks in Peru rode the
country's heady growth in
recent years like this one

While the Peruvian economy grew
between 5% and 6% between 2011 to 2013,
Banco de Crédito del Perú benefited from
the expansion of Peru's middle class that
led to strong growth in credit cards, loans
to consumers and borrowing by small-and
medium-sized enterprises.
Although the country's growth has
since slowed, Peru is still enjoying a solid
economic expansion compared to many of
its neighbors. The IMF forecasts Peru's GDP
will expand 3.6% this year, up from 3.26%
growth in 2015.
Banco del Crédito is still seeing its net
profit rise. In the first six months of 2016,
net profit rose
2.2% over the same
Credit waning
period in 2015.
Total loans at quarter-end, Banco de Crédito del Perú, (PEN, m)
The bank also saw
90,000
a 6.8% increase in
88,629
deposits from mid2015 to mid-2016.
But Banco de
Crédito de Peru
85,000
stood out among its
84,647
85,055
84,111
peers for its push
to become more
81,466
efficient. From
January to June of
80,000
79,875
this year, the bank's
efficiency ratio
hit 39.4%, slightly
down from 40.2%
75,000
in the second half
1Q15
2Q15
3Q15
4Q15
1Q16
2Q16
of 2015.
Source: Banco de Crédito del Perú
Business

46 LATINFINANCE.COM - November/December 2016

BANK OF THE YEAR TRINIDAD &
TOBAGO

The sharp decline in global oil prices
has hit Trinidad & Tobago hard. Close to
two-thirds of exports from the Caribbean
country are in oil and gas, according to
Moody's. Oil and gas income has fallen to
just 36% of government revenues, from
50% in 2013.
Despite that difficult operating
environment, First Citizens Bank grew
profits and assets in the 12 months under
consideration for LatinFinance's Bank of
the Year Awards. The bank increased profit
after tax by 2.2% year-on-year, to 492.9
million Trinidadian dollars ($73 million).
Total assets grew by 2.3% in the first nine
months of the year, reaching 38.4 billion
Trinidadian dollars.
The bank has focused on treasury
management and cost containment
strategies, which its well capitalized
balance sheet reflects in its solid liquidity
buffers and diversified funding.
First Citizens continues to be one of the
highest rated local financial institutions.
S&P rates the bank BBB+, although a
negative outlook stems from concerns over
the sovereign's position.
The bank has consolidated its position
with a strong presence throughout the
Caribbean; beyond Trinidad & Tobago it
has offices in Barbados, St Vicent, St. Lucia,
as well as a representative office in Costa
Rica.
First Citizens has also sought to develop
its product offerings. Naming technological
innovation as a priority, it has introduced
internet and mobile banking. LF


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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
LatinFinance - November/December 2016 - 39
LatinFinance - November/December 2016 - 40
LatinFinance - November/December 2016 - 41
LatinFinance - November/December 2016 - 42
LatinFinance - November/December 2016 - 43
LatinFinance - November/December 2016 - 44
LatinFinance - November/December 2016 - 45
LatinFinance - November/December 2016 - 46
LatinFinance - November/December 2016 - 47
LatinFinance - November/December 2016 - 48
LatinFinance - November/December 2016 - 49
LatinFinance - November/December 2016 - 50
LatinFinance - November/December 2016 - 51
LatinFinance - November/December 2016 - 52
LatinFinance - November/December 2016 - Cover3
LatinFinance - November/December 2016 - Cover4
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