The Global Finance magazine published their 24th annual ranking of the World’s Best Banks by region and country back in May. The criteria for selecting these banks were many ranging from asset growth to customer service. From the news article announcing the winners:
In this, our 24th annual survey, Global Finance has identified the best banks in more than 150 countries and eight regions. The winners are not necessarily the biggest banks, but rather, the best—those with the qualities that corporations should look for when choosing a bank. They are banks that attended carefully to their customers’ needs in difficult markets and accomplished better results while laying the foundations for future success.
All selections were made by the editors of Global Finance after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts throughout the world. Banks were invited to submit entries supporting their selection. Our selection criteria include growth in assets, profitability, strategic relationships, customer service, competitive pricing, and innovative products. In addition, editors conducted a poll of Global Finance’s corporate readership to increase the accuracy and reliability of the results.
In this post, let us take a quick look at The Best Banks in Latin America 2017 by country:
| S.No. | Country | Winner |
|---|---|---|
| 1 | Argentina | Banco Macro |
| 2 | Bahamas | Scotiabank Bahamas |
| 3 | Barbados | Scotiabank Barbados |
| 4 | Belize | Belize Bank |
| 5 | Bolivia | Banco Mercantil Santa Cruz |
| 6 | Brazil | Banco do Brazil |
| 7 | Chile | Banco de Chile |
| 8 | Colombia | Banco de Bogota |
| 9 | Costa Rica | Scotiabank Costa Rica |
| 10 | Dominican Republic | Banco Popular Dominicano |
| 11 | Ecuador | Produbanco |
| 12 | El Salvador | Banco Agricola |
| 13 | Guatemala | Banco Agromercantil |
| 14 | Honduras | Banco Ficohsa |
| 15 | Jamaica | National Commercial Bank of Jamaica |
| 16 | Mexico | Banorte |
| 17 | Nicaragua | Banco Lafise Bancentro |
| 18 | Panama | Banistmo |
| 19 | Paraguay | BBVA Paraguay |
| 20 | Peru | Banco de Credito del Peru |
| 21 | Puerto Rico | Banco Popular de Puerto Rico |
| 22 | Trinidad & Tobago | Republic Bank |
| 23 | Turks & Caicos | Scotiabank Turks & Caicos |
| 24 | Uruguay | Banco Santander Uruguay |
| 25 | US Virgin Islands | Scotiabank US Virgin Islands |
| 26 | Venezuela | BBVA Provincial |
Source: The World’s Best Banks 2017, Global Finance
Banco de Chile(BCH) is an excellent bank with solid dividend yield and stable growth. Canadian banking giant Scotiabank (BNS) is the best bank in Bahamas, Bermuda, Costa Rica and US Virgin Islands. The bank has a larger presence in Caribbean countries than any other Canadian bank. Argentina’s Banco Macro(BMA) has soared in recent years to reach over $90 per share. The stock used to trade in the $12 range in July, 2012. BMA is now richly valued and recently announced a secondary offering.
For the rest of the world’s best banks in 2017 for other regions and countries please visit the article at GF mag here.
Disclosure: Long BCH and BNS
