Miami, FL (Wednesday, December 21, 2022) — Banesco USA announces it has received ratings affirmations from Kroll Bond Rating Agency (KBRA) as well as a Superior 5-Star rating by BauerFinancial, Inc. The independent recognitions showcase the bank’s dedication to both its customers and continued sound strategic growth.
KBRA affirmed Banesco USA’s deposit and senior unsecured debt investment grade ratings of BBB, the subordinated debt rating of BBB-, and the short-term deposit and debt ratings of K3. The KBRA rating affirmations, paired with the BauerFinancial 5-Star Rating, highlights that the bank continues to excel in risk management while growing 40 percent year-over-year as of September 2022.
The affirmed ratings actions confirm an eventful year that included becoming the only bank recipient in Florida to receive investment funds from the U.S. Treasury Department’s Emergency Capital Investment Program (ECIP). The bank received $250 million to deploy particularly to minority borrowers, minority-owned businesses, small businesses, and borrowers located in underserved or minority communities in Florida and Puerto Rico.
“We are pleased to receive these independent results that affirm our trajectory and showcase our continued promise to grow in a responsible manner,” said Kenneth Schoeni, Chief Financial & Risk Officer of Banesco USA.
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About Banesco USA
Founded in 2006 and based in Miami, Banesco USA is an independent Florida state-chartered bank with $2.78 billion in assets as of September 30, 2022 and five locations between South Florida and Puerto Rico. Banesco USA is proud to serve the commercial real estate sector, small and middle-market businesses, as well as professionals who work in the community. The bank services both domestic and international clients as well as operating companies with a suite of products and services delivered with personalized attention to support their financial journeys. Visit BanescoUSA.com for additional information.