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Big bank watch: net income as of June 30, 2004.

DEAR SHAREHOLDER ...

* Banco de Galicia y Buenos Aires

Net income at the Argentine bank surged 105.2% to US$900,000 during the second quarter, compared with the same period a year earlier. The bank restructured its foreign debt and improved operating income. Loan-loss provisions also fell, the bank reported.

* Banco Itau

The Brazilian financial giant earned US$305.3 million during the second quarter, more than any other bank in the region. During the period, the bank's small-business and middle-market loan portfolio grew, as did personal loans and credit-card portfolios.

* Banco de Credito

The Peruvian bank earned US$23.7 million during the second quarter in 2004, down 22.8% from the same period a year earlier. The bank's performance was the worst among financial institutions monitored by LATIN TRADE. Banco de Credito attributed the results to lower net-interest income, inflation and portfolio adjustments.

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Title Annotation:Radar; company sales and earnings
Publication:Latin Trade
Article Type:Brief Article
Geographic Code:3PERU
Date:Dec 1, 2004
Words:147
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