Victor Mancilla, Superintendent of Banks, said that besides the increase in profits, the default rate fell to 1.6%.
"Meanwhile, the return on assets (ROA), which is what banks earn for each Q100 invested, rose from 1.6% in 2010 to 1.7% in 2011, meaning that for every Q100 the bank received Q1.60 and Q1.70, respectively.
"It was a very good year," especially because bank lending to the private sector grew by 14.1 percent, "which shows that there is dynamism in the economy", said Luis Lara, president of the Banking Association of Guatemala (ABG)" in an article in Prensalibre.com.
Source: prensalibre.com
More on this topic
February 2011
The profits reported by insurers in 2010 were $ 32.7 million, 11.4% higher than 2009.
The information comes from data from the Superintendence of Banks and also states that in 2009 profits reported a 22.6% growth compared to 2008.
"The report submitted to Congress by the head of SIB, Victor Mancilla, explains that the return on capital invested by insurance companies increased from 17.4% in 2008 to 18.1% last year.
July 2010
The Panamanian banking center has reported growth of 7.17% in profits for the first five months of the year.
After closing 2009 with a 22.4% fall in profits and starting 2010 with an additional drop 14.4%, from February the sector experienced a turnaround.
“Net profits accumulated in the first five months were approximately $474 billion, according to Panama’s banking regulator,” reports Prensa.com.
September 2008
Banks operating in the local market earned $694 million at the close of the first semester this year.
This figure represents an increase of 33.8% when compared to the same period last year. It also represents a return on average assets (ROAA) of 3.1%
The internal demand for credit in the private sector has continued with an upward trend (17.6%) similar to that at the close of the last year.
January 2012
The banks reported profits of nearly $276 million in 201, which is 22.5% more than 2010.
Banco Popular tops the list with earnings totaling $76 million, followed by BAC San Jose with $54 million.
An article in Elfinancierocr.com states: "... Banco Nacional (BN) remained in fourth place.
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