Monday, 08 January 2024 21:53

Bancoagrícola recognized as bank of the year in El Salvador by LatinFinance

Written by Karla Gutiérrez

Bancoagrícola continues to reaffirm its strength and leadership in the financial sector, recording impressive figures last year, which is why it has once again been recognized by LatinFinance as Bank of the Year 2023 - El Salvador.

The Bank of the Year awards recognize the financial institutions in Latin America and the Caribbean that best demonstrated excellence in customer service, commercial and investment banking over the past year. Winners are determined by the editorial team of LatinFinance, a leading voice in the financial world, based on an exhaustive selection process. Bancoagrícola has been awarded in more than 10 editions as the "Bank of the Year" of El Salvador.


Bancoagrícola manages 28.8% of deposits, with $4.19 billion, and 27.3% of loans, with $3.96 billion, in a market of 11 commercial banks. The non-performing loan ratio was 1.1% in june 2023, compared to 1.9% in El Salvador's financial system.


"Bancoagrícola's asset quality is outstanding within the salvadoran banking system. Its solid earnings have been a pillar of its financial performance, ranking above the local average and its peers", according to FitchRatings in an october report on the bank.


Bancoagrícola continues to add physical branches and digital products (33% of its clients are fully digital), allowing it to attract new clients. It ended the second quarter of 2023 with more than 1.4 million active clients.

This year Bancoagricola was named best bank for industry for the thirteenth consecutive year by the Asociación de Industrias Salvadoreñas (ASI) and strengthened its presence among women.

Bancoagricola granted close to US$180 million in loans to women through its women's leadership program in the first half of this year.


"Our number one goal is to serve our clients and those who are not part of our bank. We are working to help build a stronger country", said Ana Cristina Arango.


Translated by: A.M