Banco Bisa
A performance that was a tad better than its Bolivian rivals combined with a smart acquisition in 2002 have enabled Banco Bisa to take home the award again this year.
Despite continued weakness in the Bolivian economy, Banco Bisa, the country’s biggest financial services provider, managed to strengthen its balance sheet further thanks to a 4.6% gain in Tier 1 capital. At 4.5%, the bank’s ROE was better than the average for its peers.
Building on its leadership in the Bolivian financial services industry, last year the bank acquired La Vitalicia, the country’s largest life insurer with about 75% share of the market. The acquisition means that the bank now specialises in insurance, asset management, securities, warehousing, securitisation and leasing.
On the product front, Banco Bisa unveiled the BISA VIP programme, the purpose of which is to provide the country’s high net worth individuals with personalised banking services. The bank also implemented new state-of-the-art software to improve its commercial banking services.
Mario Lema, CEO of Banco Bisa, said: “Once again, The Banker gives us a great sense of satisfaction in granting us this recognition of excellence. It pushes us toward a greater commitment in our role for national development and the success of our clients.
“The bank began operations on July 5, 1963. In 1989, it transformed itself into a commercial bank, offering the Bolivian public a diversity of services with leading-edge technological solutions. From the outset, the bank upholds four fundamental values: transparency, exceptional customer service, social responsibility and respect for its human resources.”
