Banco Agromercantil de Guatemala
With its strong financial performance, Banco Agromercantil has once again been voted best bank in Guatemala. The bank has successfully sustained its impressive 2003 profit growth and achieved a ROE of more than 29% for 2004.
During the past year the bank has also focused on the restructuring of all operational procedures. As a result, greater emphasis was placed on certain segments of the market in order to determine specific financial requirements and provide tailor made solutions.
Banco Agromercantil de Guatemala “is by far the most profitable among the largest banks of private capital in the country,” says chief executive officer Rafael Viejo.
“We perceive our profitability as sustainable in time, since it is the result of our financial structures and policies and does not come from non-recurrent events. At the same time, we fine-tuned the organisation; we prepared it to comply with the requirements of Basel II, through the creation of an independent risk division provided with powerful software tools to deal with the identification and treatment of operational, market, credit and exchange risks, as well as prevention of money laundering.
“We feel that these efforts have prepared us in optimal manner for the expansion processes that the bank will face in the next years.”
