Banesco USA Reports Strong Q1 Results

Florida Bank Reports Growth in Net Income, Total Assets and Total Gross Loans

MIAMI--(BUSINESS WIRE)-- Banesco USA, recently named ‘Business of the Year’ by the South Florida Business Journal announced today strong results for its First Quarter Earnings with outstanding figures of $3.1 million and a ROE of 10.73%; an increase of 72% compared to first quarter results from 2018. Additionally, for the last 12 months, total assets grew 23% with loans growing $134 million or 16% and deposits growing $224 million or 23%, it reported.

“These figures mark another milestone as we continue to achieve solid results from our local market activities in Florida and Puerto Rico,” said Banesco USA’s CEO, Jorge Salas.

Over the past year, Banesco USA has garnered momentum through a series of fintech partnerships, aimed at establishing it as the local frontrunner and innovative bank. Banesco USA recently partnered with Plug and Play, one of the largest innovation platforms located in Silicon Valley, in support of its pursuit of the digital transformation offerings and operations. The bank is also slated to open a new business center in Aventura Park Square in Q2 2019.

“We believe our commitment to delivering digital innovation with a personal, human touch is taking hold in the marketplace and will continue to be a hallmark of our brand for years to come,” added Salas. In addition to the bank’s focus on technological innovation and growth, Banesco USA places an emphasis on providing customers personal service upon which they can rely.

About Banesco

Founded in 2005 and based in Coral Gables, Banesco USA is an independent Florida state-chartered bank (https://banescousa.com/OFR-Cert-of-Good-Standing.pdf) with $1.28 billion in assets as of December 31st, 2018. Banesco USA is completely independent of Banesco in other countries and its deposits are insured by the FDIC. The bank has four branches in South Florida: Coral Gables, Doral, Hialeah and Weston; and one in San Juan, Puerto Rico. It plans to open a branch in Aventura, FL in first quarter of 2019.Banesco USA has a 5-star rating from the Bauer Financial rating service and a BB- Fitch Rating. Visit www.BanescoUSA.com for information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190429005609/en/

Renee Alvarez
Pinta for Banesco
[email protected]
(305) 615-1111 ext.114

Source: Banesco USA

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