Banesco USA Reports Strong Results

CORAL GABLES, Fla.--(BUSINESS WIRE)-- Banesco USA announced today continued strong results for the six months ended June 30, with record breaking figures of $3.5 million in net income, an increase of 132% over the first six months of 2017.

Total assets increased 20% to $1.22 billion, compared to $1.02 billion at June 30, 2017. During the 12-month period, total loans grew by $179 million, or 24%, and deposits grew by $132 million, or 15%.

“We continue to achieve solid results from our local market activities in Florida and Puerto Rico. These results are yet another milestone. As the world embraces a period of digital transformation, a potentially scary reality for some community banks, Banesco USA is set up to take the lead. You will definitely hear more from us as our plans develop,” said Banesco USA’s President and CEO Jorge Salas.

About Banesco USA

Founded 12 years ago and based in Coral Gables, Banesco USA has four branches in South Florida: Coral Gables, Doral, Hialeah and Weston; and one in San Juan, Puerto Rico. It holds a 5-star rating from the Bauer Financial rating service and its deposits are insured by the FDIC. Banesco USA is part of Banesco International, a worldwide group of financial institutions with presence in 15 countries. The largest bank by assets of the group is the Spanish bank Abanca, with $82 billion.

Visit www.BanescoUSA.com for more information about Banesco USA.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180726005708/en/

For Banesco USA
Natalia Arana, 786-552-0576
or
Wragg & Casas
Ray Casas, 305-372-1234

Source: Banesco USA

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