Big bank watch: net income as of June 30, 2005.Dear shareholder ... * Banco Bradesco Banco Bradesco, short for Banco Brasileiro de Descontos, that is 'Brazilian Discount Bank', is one of the Big Four banks in Brazil, the others being Banco do Brasil, Banco Itaú and Unibanco. Bradesco is the largest private bank in Brazil. Brazil's largest private bank earned US$602.4 million during the first half of 2005, more than any other bank in the region and 192% more than what it earned during the first six months of last year. Continued economic growth, higher wages and falling unemployment rates boosted demand for loans. * Banco de Galicia y Buenos Aires Buenos Aires (bwā`nəs ī`rēz, âr`ēz, Span. bwā`nōs ī`rās), city and federal district (1991 pop. The Argentine Argentine having some relationship with the country Argentina. Argentine tick margaropuswinthemi. Argentine tortoise geochelonechilensis. bank posted net income of US$48 million during the first half of 2005, a 173% increase from a year earlier. The bank said its parent company, Grupo Galicia, forgave for·gave v. Past tense of forgive. forgave Verb the past tense of forgive forgave forgive it of $43 million in debt obligations. Loan demand continued to gain steam while the quality of its loans improved. * Banco Santander Santiago Net income rose by 71% during the first half of this year. The Chilean financial institution earned US$107 million in the period on rising demand for loans and timely repayments that have resulted from overall economic growth. Provisions for past-due loans dropped, which boosted operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. . [GRAPHIC OMITTED] |
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