November 7, 2017 |
Although Fitch Ratings predicted in January that El Salvador’s banking sector would face decreased interest margins and rising consumer credit costs, Banco Agrícola managed to record gains amid a tough operating environment. In the first six months of 2017, the bank increased its total assets by 2.5% year-on-year to $4.1 billion, and expanded its loan book to $2.96 billion, according to Banco Agrícola’s latest financial results.
With a leading 26% market share in the country’s banking sector, Banco Agrícola is LatinFinance’s Bank of the Year in El Salvador. The Bancolombia subsidiary edged out Scotiabank El Salvador, which saw its total assets decrease by 3% in the first six months of this
El Salvador’s leading financial institution navigates a tricky operating environment to register growth in assets and loans.