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CONTINENTAL BANK NAMES HEAD OF LATINAMERICA GROUP SENIOR MANAGING DIRECTOR

 CHICAGO, Sept. 24 /PRNewswire/ -- Continental Bank (NYSE: CBK) today announced the promotion of Alberto Luzarraga, 56, to senior managing director. Based in New York, Luzarraga heads Continental's Latin America division, serving the trade finance and capital markets needs of businesses through its offices in Argentina, Brazil, Chile, Mexico and Venezuela as well as its domestic offices in New York and Chicago.
 "Alberto has successfully directed the transformation of our Latin American offices from commercial banking facilities to profitable investment banking operations," said Vice Chairman Richard L. Huber. "Under his leadership, we have restructured the bank's Latin America portfolio over the last four years, reducing term loans outstanding to nearly zero and building an actively managed $120 million equity portfolio."
 In 1987, Continental's Latin America loan portfolio totaled $1.9 billion, mostly long term, with 21 percent nonperforming. However, as of June 30, 1993, the Latin America portfolio equaled $711 million, mostly short term, with less than one percent nonperforming.
 Luzarraga has headed Continental's Latin America division since joining the bank in 1986 from American Express International Banking Corporation of New York.
 Luzarraga has a Ph.D. in civil law from the University of Villanova in Havana, Cuba, a C.P.A. from the University of Havana, and an M.B.A. from the Graduate School of Business at the University of Miami, Fla. He is an active member of the Chambers of Commerce in most Latin American countries, and serves on the advisory board of the Council of the Americas.
 Continental Bank focuses on meeting the capital and financial management needs of public and privately held businesses worldwide. The bank provides business financing, specialized financial and operating services, and private banking services. Continental also engages in equity finance and investing, as both principal and arranger, and international trading.
 -0- 9/24/93
 /NOTE TO EDITOR: Photo available/
 /CONTACT: Lisa M. Hewitt of Continental Bank, 312-923-5166/
 (CBK)


CO: Continental Bank ST: Illinois IN: FIN SU: PER

TS -- NY066 -- 5520 09/24/93 15:37 EDT
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Publication:PR Newswire
Date:Sep 24, 1993
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