Banco Continental
“For us this award is a recognition of our financial strength as well as the continued growth in the value of our franchise demonstrated by the excellent results obtained in 2005 in terms of profitability, capitalisation and asset quality,” says Osvaldo F Moyunes, CEO of Banco Continental.
“We will continue on the path to achieve our goal of becoming an entity with a culture committed to delivering great value, in more ways, to a growing number of clients both locally and regionally, and by building lasting and successful relationships in the framework of the highest ethical and professional standards.”
The bank has shown its determination to maintain its BBB- investment grade rating, and to have more access to international markets at better conditions.
After two years of research on the way banks do business in Panama, the group identified a deficiency in services provided to customers. Hence, Banco Continental has defined customer service as its new imperative, with a set of initiatives across the organisation to change its client service culture, which yielded greater customer loyalty, more cross-selling and improved results.
The bank achieved a 10.55% increase in net profits last year, with a RoE of 17.09% and cost/income ratio of 48.72%. The group has also focused on offering a technology platform that will provide better customer service and bring improved efficiency and cost savings. Last year it launched an $18m technology change, which involved a new IT platform based on integrated architecture.
