ABN Amro Paraguay
ABN AMRO’s Paraguay operations had a highly successful year, with a 29.51% improvement in Tier 1 capital, along with a boost in RoE from 27.64% to 33.81% and an impressive 51.12% leap in net profits.
The bank has been actively undertaking actions and new strategies to improve shareholder return.
The group has focused on new client segments with two main objectives. The bank is seeking an increase in the utilisation of existing products, and in the development and marketing of new products. It has also increased its deposit base to fund growth in its credit portfolio, in short-term local currency government paper. Internet services have been given special attention and there are ongoing projects to improve this service.
There has also been a focus on cross-selling to consumer and corporate segments, while offering customised products to all customer segments. ABN AMRO is Paraguay’s leader in product innovation, and its credit card business is the star performer in the local market, with a two-fold growth level over the past year.
“The trend of our results during these past years shows we are on the right path,” says general manager Euclides Ribeiro. “It also shows that an organisation must constantly re-invent itself in order to maintain its comparative advantages in a changing world. We sincerely believe that ABN AMRO’s responsibility has to do with being a good corporate citizen in terms of sustainability, social responsibility, respect and integrity. We shall continue with our teamwork within this framework.”
