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BIG BANK WATCH.

 BIG BANK WATCH

% CHANGE IQ98/IQ99
 NET INCOME % CHANGE
 US$ MILL. IQ98/IQ99
BANCO SANTANDER CENTRAL HISPANO (LATAM) 144.6 16.4
BANCO BILBAO VIZCAYA (LATAM) 92.6 -5.8
BANCOMER (MEXICO) 140.2 184.8
BANCO ITAU (BRAZIL) 442.2 166.8
BANCOLOMBIA (COLOMBIA) [*] 8.6 124.6
BANCO GALICIA Y BUENOS AIRES (ARGENTINA) 37.2 84.2
BANAMEX (MEXICO) 199.2 48.9
BANCO SANTANDER CHILE (CHILE) 30.6 29.6
BANCO PROVINCIAL (VENEZUELA) 43.7 -13.6
BANCO BRADESCO (BRAZIL) 149.7 -17.4
BANCO DE CREDITO (PERU) 14.1 -20.5
BANCO RIO DE LA PLATA (ARGENTINA) 18.9 -42.3
BANCO SANTIAGO (CHILE) 14.7 -64.5


(*.)% change for IV98/IQ99, since IQ98 results of operations
did not reflect the merger between BIC and Banco de Colombia,
therefore not directly comparable.
Sources: Company Reports, LATIN TRADE


DEAR SHAREHOLDER...

[down arrow] BANCO RIO DE LA PLATA

Brazil's decision to devalue its currency doomed the Argentine economy. That was hardly welcome news for Banco Rio de la Plata's balance sheet. The leading Argentine bank's profits also suffered because the slowdown came amid the bank's expansion plans.

[up arrow] BANCO ITAU

Banco Itau reported that it has more than $1.4 billion in investments outside Brazil, including Argentina, the United States, Cayman Islands and Portugal. In the wake of the Brazilian currency devaluation, those U.S. dollar investments helped keep the bank in the black.

[up arrow] BANCOMER

A very healthy first quarter in which non-performing loans dropped 7% was somewhat overshadowed by Bancomer confessing to U.S. authorities that it was guilty of one count of money laundering. The embarrassing scandal cost the bank $9.4 million.
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Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Latin Trade
Article Type:Brief Article
Geographic Code:0LATI
Date:Sep 1, 1999
Words:280
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