NEW YORK, NY--(Marketwired) - Grupo Financiero Ficohsa has been named Bank of the Year and Bank of the Year Honduras in LatinFinance's 2015 Bank of the Year Awards. The winners of this year's awards employed nimble strategies that reflected a keen market understanding, focusing on efficiency and increasing market inclusion. Banco Financiero Ficohsa stood amongst its peers in the region for combining ambitious acquisitions with a bespoke strategy for long-term growth.
"Banco Financiero Ficohsa's diverse approach to growth in the past year makes it unique in the region. While many international lenders are exiting Central America, Ficohsa saw, and acted on, the opportunities presented with these departures," Katie Llanos-Small, Editor-In-Chief of LatinFinance, says.
Ficohsa snapped up Citi's consumer and credit card businesses in Honduras in July 2014 and also agreed to buy Citibank's consumer business in Nicaragua less than a year later.
The editorial team at LatinFinance selected the winners after an extensive, detailed process. Shortlists for country categories included the biggest banks by assets in each country, while investment banking shortlists were comprised from leaders in local capital markets league tables. LatinFinance considered extensive financial data for well over 140 institutions throughout the region, as well as market analysts' opinions and supporting documentation from the institutions themselves. An online survey, which garnered a record number of responses, rounded out the process.
Other winners in LatinFinance's Bank of the Year Awards include Bradesco, Banco de Chile and BBVA Bancomer. Winners in investment banking include Banca de Inversión Bancolombia, Banamex and Itaú BBA. A full list of winners is below and available at www.latinfinance.com/boty.
LatinFinance Bank of the Year Awards winners:
The LatinFinance Bank of the Year Awards recognize financial institutions in Latin America and the Caribbean that have demonstrated excellence in retail, commercial and investment services between July 1, 2014 and June 30, 2015. Please click through for full details on the winner in each category.
Bank of the Year Grupo Financiero Ficohsa
Argentina Banco Macro
Bolivia Banco Mercantil Santa Cruz
Brazil Investment Bank Itaú BBA
Caribbean Republic Bank
Central America BAC Credomatic
Chile Banco de Chile
Chile Investment Bank Banchile-Citi
Colombia Investment Bank Banca de Inversión Bancolombia
Costa Rica BAC San José
Dominican Republic BanReservas
Ecuador Banco Pichincha
El Salvador Banco Agrícola
Guatemala Banco Industrial
Honduras Grupo Financiero Ficohsa
Jamaica National Commercial Bank
Mexico BBVA Bancomer
Mexico Investment Bank Banamex
Microfinance Fundación Delamujer
Multilateral Inter-American Development Bank
Nicaragua Banco Lafise Bancentro
Panama Banco General
Paraguay Banco Continental
Peru Scotiabank Peru
Trinidad Republic Bank
Uruguay Banco de la República Oriental del Uruguay
Venezuela BBVA Provincial
The awards are selected by LatinFinance's editors. The selection process takes into account financial data for banks over the reference period, including but not limited to total assets, capital ratios, return on equity and return on assets, as well as market opinion, a review of local league tables and supporting documentation from banks themselves. For more information on the awards, please visit www.latinfinance.com/boty.
Since 1988 LatinFinance has distinguished itself as a leading source of intelligence on the financial markets and economies of Latin America and the Caribbean. Published from New York and Miami, with a network of correspondents across the region, the Daily Brief delivers the latest news and deal coverage, while the magazine and data-intensive website, latinfinance.com, add the further context and analysis required to do business in these fast-moving markets. Covering debt, equity, structured finance, syndicated loans, private equity and M&A, as well as multilateral financing, people moves and secondary trading, LatinFinance is the essential provider of news and analysis that can't be found anywhere else. For more information please visit latinfinance.com.
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