BIG BANK WATCH.
BIG BANK WATCH % CHANGE IIQ98/IIQ99 NET INCOME US$ MILL. BANCO SANTANDER CENTRAL HISPANO (LATAM) 158.7 204.2 BANCO BILBAO VIZCAYA (LATAM) 122.1 -6.4 BANCOMER (MEXICO) 55.0 217.3 BANCO GALICIA Y BUENOS AIRES (ARGENTINA) 50.9 78.6 BANAMEX (MEXICO) 181.3 27.3 BANCO SANTANDER CHILE (CHILE) 27.6 20.0 BANCO RIO DE LA PLATA (ARGENTINA) 33.3 4.4 BANCO ITAU (BRAZIL) 188.2 4.4 BANCO SANTIAGO (CHILE) 21.6 -39.7 BANCO BRADESCO (BRAZIL) 114.8 -41.7 BANCO PROVINCIAL (VENEZUELA) 33.2 -44.6 BANCO DE CREDITO (PERU) 1.7 -92.1 BANCOLOMBIA (COLOMBIA) [*] 18.8 -741.6 (*.)% change for IQ99/IIQ99, since IIQ98 results of operations did not reflect the merger between BIC and Banco de Colombia, therefore are not directly comparable. Sources: Company reports, LATIN TRADE
[up arrow] BANCOMER
Mexico's Bancomer tops LATIN TRADE'S Big Bank Watch again with back-to-back quarters that beat the pack. However, the bank's second quarter statement heavily stresses its "year-to-date" numbers--that's because profits have fallen by a third from the first quarter. Despite the slowdown, the bank managed to charge customers a fifth more in fees from a year ago.
[up arrow] BANCO GALICIA Y BUENOS AIRES
The Argentine bank earned a one-time jackpot by selling its stake in the Consolidar Group, a pension fund and insurer. However, much of those funds were plowed into loan loss provisions, reflecting worries about the future. Otherwise, margins and income grew faster than expenses.
[down arrow] BANCOLOMBIA
"Results throughout the Colombian financial system have not been as expected..." The message: Hey, don't blame us. Falling interest rates plus few new loans tanked results at Bancolombia and the rest of the system. The bank also ate another $5 million from a merger last year with Banco Industrial Colombiano.3
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|Article Type:||Brief Article|
|Date:||Dec 1, 1999|
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