Big bank watch: net income as of Sept. 30, 2004.DEAR SHAREHOLDER ... * Argentina's 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. Lost US$2.4 million. While a loss, the amount represents a 92% improvement from what the bank lost a year ago. Credit demand has increased, and the bank has had to set aside less money to cover defaulted loans. Fees applied to services such as foreign-exchange sales also helped. * BRADESCO BRADESCO Banco Brasileiro de Descontos SA (Brazilian bank) Earned US$263 million during the third quarter of 2004, 36% more than during the same period a year earlier. The bank's securities and credit portfolios grew due to an increase in financing demands from individual and business clients. Interbank in·ter·bank adj. Relating to, involving, or connecting two or more banks: interbank borrowing; an interbank network of automated teller machines. deposits also helped push up income. * BBVA BANCOMER BBVA Bancomer is the largest financial institution in Mexico, dominating about 20% of the market. History Founded in 1932 in Mexico City as Banco de Comercio (English: Commerce Bank) (Bancomer). Reported net income of US$53 million during the third quarter of 2004, 69% less during the same period of 2003. The bank would have posted a 44% gain in profits if it didn't have to cough UP $188 million to repay government bailout funds it received after the 1995 peso crisis. |
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