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
[down arrow] BANCO RIO DE LA PLATA La Plata (lä plä`tä), city (1991 pop. 640,344), capital of Buenos Aires prov., E central Argentina, 5 mi (8.1 km) inland from Ensenada, its port on the Río 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 ITAU IN-TINA Adaptation Unit
Banco Itau reported that it has more than $1.4 billion in investments outside Brazil, including Argentina, the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Cayman Islands Cayman Islands (kā`mən), British dependency (2005 est. pop. 44,300), 100 sq mi (259 sq km), comprising three islands in the West Indies. and Portugal. In the wake of the Brazilian currency devaluation Currency devaluation
A deliberate downward adjustment in the official exchange rates established, or pegged, by a government against a specified standard, such as another currency or gold. , 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 A non-performing loan is a loan that is in default or close to being in default. Many loans become non-performing after being in default for 3 months, but this can depend on the contract terms. dropped 7% was somewhat overshadowed by Bancomer confessing to U.S. authorities that it was guilty of one count of money laundering The process of taking the proceeds of criminal activity and making them appear legal.
Laundering allows criminals to transform illegally obtained gain into seemingly legitimate funds. . The embarrassing scandal cost the bank $9.4 million.