Banesco USA

We are dedicated to enhancing the well-being of our clients and fortifying the future of our communities through innovative banking solutions and personalized service.

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What we do. What we do.

What we do.

Founded in 2006, Banesco USA is an independent Florida state-chartered bank at the forefront of revolutionizing the banking landscape. As a trusted financial institution, we are deeply committed to delivering exceptional services that cater to the evolving needs of our customers. With domestic and international clients, Banesco serves the commercial and real estate sectors, small and middle-market businesses, professionals, and operating companies.

As a member of the Federal Deposit Insurance Corporation (FDIC), we offer the security and peace of mind that comes with knowing your funds are protected. Our unwavering commitment to transparency, integrity, and exceptional customer service sets us apart in the industry. The bank has six offices between South Florida and Puerto Rico, and a loan and deposit production office in West Palm Beach.

Committed to a client-centric service approach, Banesco USA goes beyond traditional banking to empower businesses, individuals, and families with innovative financial solutions, personalized guidance, and support, ensuring that our clients can confidently thrive in their financial journey in an ever-changing financial landscape.

Driven by a passion for progress, we leverage cutting-edge technology and digital capabilities to create seamless banking experiences. Join us in shaping the future of banking as we continue to innovate, empower, and inspire our customers across all the communities we serve.

Banesco USA is regulated by the Office of Financial Regulation (OFR) and completely independent of Banesco in other countries. Banesco USA holds a 5-star rating from the Bauer Financial rating service as well as a rating affirmation from the Kroll Bond Rating Agency.

What makes us different.

Innovative Solutions

As a forward-thinking financial institution, we are proud to be at the forefront of innovative banking solutions. We understand that in today’s rapidly evolving world, our clients require convenient servicing options and efficient transaction processing alternatives tailored to their unique needs. With our commitment to innovate, we strive to ensure that our clients have access to the best banking solutions available.

Banking Expertise

With a range of insights across the financial industry spectrum, we offer advice and ideas to help our clients progress on their financial journeys. From basic accounts with digital banking access to sophisticated credit facilities with customized terms, our clients get support from an experienced team of professionals. Our integrated approach combines years of U.S. domestic and global banking expertise to benefit our clients.

Customized Experiences

We provide an array of banking and relationship servicing channels to create the experiences that our clients desire. From do-it-yourself digital banking to in-person or virtual conversations with a banker, we provide choices, easy access and delight at every point of contact. We are dedicated to facilitating clients’ financial decisions and streamlining transaction processing to deliver the most satisfying banking experiences.

Banesco International together with ABANCA.

Banesco USA is one of four independent financial groups operating under the Banesco International Brand.

Banesco International

Banesco International is a financial services brand founded in 1996, comprised of four independent financial groups with a global presence in 6 countries.

  • Curaçao
  • Dominican Republic
  • Panama
  • Puerto Rico
  • United States
  • Venezuela

ABANCA

ABANCA Corporación Bancaria Group is a financial institution based in Spain, with a presence in 11 countries.

  • Brazil
  • France
  • Germany
  • Mexico
  • Panama
  • Portugal
  • Spain
  • Switzerland
  • United Kingdom
  • United States
  • Venezuela
  • $93B Total Assets
  • $57B Total Loans
  • $72B Total Deposits
  • 12K Employees
  • 923 Branches

As of December 31, 2023

Banesco USA
Financial Strength

As of March, 2024

Assets
$3.95 billion

Loans
17% annualized growth

Customer Deposits
22% annualized growth

Net Income
$7.8 million

Assets
$3.81 billion

Loans
$2.88 billion

Total Deposits
$3 billion

Net Income
$25.28MM

Assets
$3.81 billion

Loans
$2.88 billion

Total Deposits
$3 billion

Net Income
$25.28MM

Assets
$3.81 billion

Loans
$2.88 billion

Total Deposits
$3 billion

Net Income
$25.28MM

Assets
$3.81 billion

Loans
$2.88 billion

Total Deposits
$3 billion

Net Income
$25.28MM

Assets
$3.81 billion

Loans
$2.88 billion

Total Deposits
$3 billion

Net Income
$25.28MM

Assets
$3.81 billion

Loans
$2.88 billion

Total Deposits
$3 billion

Net Income
$25.28MM

Assets
$3.81 billion

Loans
$2.88 billion

Total Deposits
$3 billion

Net Income
$25.28MM

Assets
$3.81 billion

Loans
$2.88 billion

Total Deposits
$3 billion

Net Income
$25.28MM

Assets
$3.81 billion

Loans
$2.88 billion

Total Deposits
$3 billion

Net Income
$25.28MM

Assets
$3.81 billion

Loans
$2.88 billion

Total Deposits
$3 billion

Net Income
$25.28MM

Annual Reports
2024
  • 2024
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
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Our community commitment.

Banesco USA places a priority on social responsibility. We invest in programs that empower individuals to achieve their greatest potential, support economic development, protect the environment and improve the quality of life for the people who live, work and visit our communities.

We encourage and reward employees who volunteer their time and talent to strengthen financial literacy, mentor the next generation of business leaders and make an overall positive impact in the community.

We strive to reduce the environmental impact of our corporate and individual actions through sustainable business practices such as conservation and resource management.

Cristo Rey Corporate Work Study Program

Cristo Rey Corporate Work Study Program

Through this innovative program, students work at local companies to fund the majority of their tuition, gain valuable job experience, and provide real services to local businesses. Banesco USA has partnered with CWSP to welcome student workers as entry-level employees and provide them the opportunity to gain professional banking experience, thinking skills and student engagement while helping students merge what they learn in school with the real world.
United Way Miami

United Way Miami

Our commitment to our communities naturally aligns with the mission of United Way Miami. We collaborate with United Way Miami as a leading partner, working towards building strong and resilient communities. We support their mission by providing financial sponsorships, volunteer opportunities, and active participation on the Board of Directors. Our commitment extends to serving on United Way Miami’s Women United Executive Council, advocating for meaningful opportunities in fundraising, volunteering, and professional development.
Junior Achievement of Greater Miami

Junior Achievement of Greater Miami

Our partnership is centered around providing students from diverse socio-economic backgrounds with comprehensive economic education, starting from the earliest stages of their educational journey. As a result, students develop a range of invaluable skills, including critical problem-solving abilities and informed decision-making expertise in the realms of business, economics, and personal finance.
Habitat for Humanity of Greater Miami

Habitat for Humanity of Greater Miami

Habitat for Humanity of Greater Miami builds homes for low-income families in Miami-Dade County. We support this organization through financial sponsorships and volunteer opportunities serving as Chair of their Women’s Leadership Council, members of their Women Building Up Women initiative and their fundraising host committee.
Fundación Comunitaria de Puerto Rico

Fundación Comunitaria de Puerto Rico

This is the first foundation of its kind in Puerto Rico and the Caribbean, and the only one in Puerto Rico today. They promote sustainable access to clean water, renewable energy, housing, community economic development, and education through increased community capital. We have partnered with this remarkable foundation to help communities in Puerto Rico achieve their social and economic transformation.
I Have A Dream Foundation

I Have A Dream Foundation

Dedicated to the noble mission of ensuring equal educational opportunities for all children, striving to empower young ‘dreamers’ in underserved communities to pursue and achieve their higher education aspirations. By equipping individuals with the necessary skills, knowledge, and resources, they pave the way for their success in postsecondary education and they provide essential tuition assistance to alleviate financial barriers that often hinder access to college. Through their efforts, they aim to transform the academic and life trajectory of these dreamers, leaving a lasting impact on not only their families but also future generations to come. We actively contribute to the cause as a valued member of their esteemed Board of Directors.
Casa Familia

Casa Familia

Casa Familia is a non-profit organization committed to the creation of sustainable, enriched, and affordable housing communities. Their primary focus is on providing exceptional living environments with tailored features, amenities, and services to greatly benefit adults with intellectual, developmental, and related disabilities. At the forefront of supporting this vital cause, one of Banesco USA employees proudly serves as the Treasurer of the organization. Furthermore, Banesco USA has taken a pioneering step by establishing the Casa Familia Bankers Alliance—a groundbreaking collaborative effort among banks.
Miami-Dade Economic Advocacy Trust ('MDEAT')

Miami-Dade Economic Advocacy Trust (‘MDEAT’)

MDEAT stands as a county agency with a profound mission to foster equitable participation of the Black community in the economic growth of Miami-Dade County. They tirelessly advocate for equal opportunities while vigilantly monitoring economic conditions and development initiatives within the county. We support this crucial organization through various means, including financial sponsorships and providing invaluable volunteer opportunities by serving on their Board of Directors.
AAA Scholarship Foundation

AAA Scholarship Foundation

AAA is a prominent Florida Tax Credit Scholarship Organization dedicated to empowering economically disadvantaged families and families with children with disabilities. Their mission is to provide comprehensive support, including financial assistance, to enable these families to make informed decisions about selecting the most suitable K-12 schools for their children’s education. We proudly contribute to this noble cause financially and by actively engaging its employees as Chair of the Bank Advisory Council.
Casa Valentina

Casa Valentina

Casa Valentina is unique in Florida and around the country, providing wraparound mentoring and coaching services tailored to each resident, as well as safe, affordable housing to help them reach their goals. Casa Valentina’s goal is to provide at-risk and former foster care youth with safe affordable housing, life skills, and continued support so that they achieve and maintain self-sufficiency.

The core values that guide us.

Responsibility.

We fulfill our commitments to our customers, teams and society.

We behave according to what we declare.

We stay focused until we know that we have exceeded our customers’ expectations.

We respect valuable ideas, even if they are different from ours.

Reliability.

We defend the interests of the clients and the organization above our own.

We act with generosity and consider the impact of our actions, prioritizing collaborative work.

We speak openly about risks and limitations, we recognize when we fail, and when we make mistakes.

Quality.

We work with passion to give the best solution to the client, optimally using time and resources.

We equip ourselves with agile, simple and scalable processes that allow us to do things right from the beginning.

Innovation.

We encourage entrepreneurship and experimentation, we are tolerant of failures, and learn from them.

We build a vision of the future and transversality for our organization.

We know the best technological and non-technological solutions and incorporate them in a timely and efficient manner.

Board of Directors

Carlos Palomares

Chairman of the Board

Carlos Palomares

Mr. Palomares is a seasoned banking executive with over four decades of experience in the USA and international financial markets. His leadership prowess is evident as he served as the Miami-Dade County Board of Directors Chairman at the Beacon Council. Additionally, he holds a pivotal role on the Executive Committee of the Greater Miami Chamber of Commerce. Mr. Palomares is a distinguished graduate of New York University, where he earned his degree, solidifying his expertise in the field.

Juan Carlos Escotet Rodriguez

Vice-Chairman of the Board

Juan Carlos Escotet Rodriguez

As a highly accomplished banking executive, Mr. Escotet Rodriguez brings a wealth of experience in the financial sector. Currently serving as the President of Banesco Grupo Financiero Internacional, he holds influential positions as the Chairman of the Board of Directors of both Banesco Banco Universal and Banesco Holding. Additionally, he contributes his expertise as a director at Banesco Holding Latinoamérica, S.A. Furthermore, Mr. Escotet Rodriguez offers valuable insights as an adviser to the VISA International Advisory Council for Latin America and the Caribbean. He also serves as a respected member of the board of directors of the Spanish Confederation of Savings Banks (CECA).

Calixto (Cali) García-Vélez

President & CEO

Calixto (Cali) García-Vélez

Mr. García-Vélez boasts an extensive background in the financial sector, spanning back to 1993. He has excelled in South Florida and Puerto Rico Markets, working with renowned institutions such as First Union National Bank, Citibank, Doral Bank, and First BanCorp. Recently appointed to the Florida Bankers Association Board of Directors, Mr. García-Vélez continues to leave his mark on the industry. He dedicates his time as a Guardian ad Litem volunteer alongside his professional accomplishments. He proudly holds a bachelor’s and MBA degree from the prestigious University of Miami.

Seno Bril

Director

Seno Bril

Mr. Bril brings over 40 years of expertise in senior management across investment banking, wealth management, and consumer financial services. He has successfully navigated the complexities of both U.S. and international markets. A graduate of the Institute of International Studies in Geneva, Mr. Bril’s knowledge extends beyond borders. His contributions to the industry were recognized through his appointment as Chairman of the Florida International Bankers Association (FIBA). He holds a bachelor’s degree and an MBA, emphasizing his dedication to continuous learning and growth.

Carlos Eduardo Escotet Alviarez

Director

Carlos Eduardo Escotet Alviarez

Mr. Escotet Alviarez, a valued member of Banesco Group since 2011, has served on the boards of various Banesco Group companies worldwide. His innovative mindset has propelled him to lead the design and implementation of new products while also showcasing his entrepreneurial flair in the commercial real estate and multi-family segments in the United States. He obtained an MBA from the esteemed Rady School of Management (UCSD) and holds a degree in Economics from Universidad Católica Andrés Bello.

Alvaro Morales

Director

Alvaro Morales

Mr. Morales, a seasoned banking executive, boasts over 22 years of experience in private banking, wealth management, global business generation, and technology innovation. His impressive career encompasses CEO and Board of Director positions within Santander Group. Furthermore, he co-founded and serves as the Chairman of Flanks, showcasing his entrepreneurial spirit in the fintech space. He earned his MBA from the prestigious IESE Business School and holds a degree in Industrial Engineering from the Polytechnic University of Catalonia.

Edward Holden

Director

Edward Holden

Mr. Holden, a senior banking executive with over 45 years of expertise, specializes in commercial, corporate, and international lending, focusing on asset and liability growth. His extensive career features notable achievements such as board leadership, market presidency, and group regional vice presidency at esteemed local and national financial institutions. He holds both Bachelor’s and Master’s Degrees in Business Administration from the University of Florida, solidifying his academic foundation.

José B. Carrión III

Director

José B. Carrión III

Mr. Carrión III, a seasoned financial services executive, and insurance consultant, possesses over 25 years of experience driving sustainable business growth. With his expertise spanning budget oversight, policy management, governing oversight, and strategic planning, he brings invaluable board leadership to our Bank. He holds a Master’s in Business Administration from St. John’s University and a Bachelor of Arts from the University of Pennsylvania, among other notable diplomas and certifications.

Executive Management

Calixto (Cali) García-Vélez

President & CEO

Calixto (Cali) García-Vélez

Mr. García-Vélez boasts an extensive background in the financial sector, spanning back to 1993. He has excelled in South Florida and Puerto Rico Markets, working with renowned institutions such as First Union National Bank, Citibank, Doral Bank, and First BanCorp. Recently appointed to the Florida Bankers Association Board of Directors, Mr. García-Vélez continues to leave his mark on the industry. He dedicates his time as a Guardian ad Litem volunteer alongside his professional accomplishments. He proudly holds a bachelor’s and MBA degree from the prestigious University of Miami.

Mercedes Escotet

EVP, Chief Corporate Governance Officer

Mercedes Escotet

With over 35 years of experience in the financial sector, Ms. Escotet is a seasoned professional. She holds a Bachelor of Science degree in Computer Science and Business Administration and Mathematics from Davis & Elkins College and a Computer Science degree from Universidad Simón Bolívar. Responsible for directing Banesco USA’s overall corporate governance, audit, and procurement functions, she also serves as Secretary to the Board of Directors.

Leticia Pino

EVP, Chief Administrative Officer

Leticia Pino

With over 35 years of experience in international and domestic operations, Ms. Pino is an esteemed Executive Vice President and Chief Administrative Officer. She holds a Bachelor’s degree in Professional Administration from Barry University, specializing in the Human Resource Certificate Program. Additionally, she completed the Human Resource Management Program at the University of Miami. Ms. Pino’s responsibilities encompass oversight of Operations, Loan Operations, Facilities, Electronic Banking, Client Care, and Human Capital. Her astute management ensures the smooth functioning of critical bank operations and the effective utilization of human resources.

Maritza Abadía

EVP, Puerto Rico Market President

Maritza Abadía

With over 35 years of experience in Corporate Banking, Ms. Abadía is a highly skilled professional banker and certified public accountant. As the EVP and Puerto Rico Country Manager, she is pivotal in overseeing the bank’s operations in Puerto Rico. Ms. Abadía holds a Bachelor of Science in Business Administration and a Master of Business Administration from the University of Puerto Rico. In addition, she is a Certified Public Accountant, further augmenting her expertise in the field.

Nelson Hidalgo

EVP, Head of Corporate Banking

Nelson Hidalgo

With a distinguished career spanning over 25 years in Corporate Banking and Commercial Lending, Mr. Hidalgo brings a wealth of experience to his role as EVP and Head of Corporate Banking. Responsible for overseeing Corporate Banking and Business and Professional areas, he plays a vital role in driving the bank’s corporate banking strategies. Mr. Hidalgo holds a Bachelor of Science in Business Administration from Florida International University, further solidifying his foundation in the field.

Julio Valle

EVP, Chief Information Officer

Julio Valle

Mr. Valle brings over 20 years of experience in technology, with a specific focus on financial institutions, for the past 15 years. As the EVP and Chief Information Officer, he leads the bank’s technical operations, business intelligence, and innovative projects. Mr. Valle holds a Bachelor of Science degree in Computer Science from Florida International University. With his extensive technological knowledge, he drives strategic initiatives and ensures the bank remains at the forefront of digital innovation.

Kenneth Schoeni

EVP, Chief Financial & Risk Officer

Kenneth Schoeni

As the EVP and Chief Financial & Risk Officer, Mr. Schoeni directs Banesco USA’s Finance & Accounting, Treasury, Risk, BSA & Compliance, and Strategic Planning functions. With previous experience in investment banking at Lazard Middle Market and Sandler O’Neill, he brings valuable expertise to the organization. Mr. Schoeni holds a B.A. from Vanderbilt University, complementing his comprehensive understanding of financial management and risk mitigation.

Michel Vogel

SVP, Chief Credit Officer

Michel Vogel

With over 25 years of banking experience in commercial banking and credit management, Mr. Vogel is a highly knowledgeable professional. Holding an MBA from Florida Atlantic University, he assumes the crucial role of overseeing the Credit Administration unit. Mr. Vogel’s responsibilities encompass Credit Analysis, Portfolio Management, and Special Assets, where his expertise ensures sound credit practices and effective risk management.

Gustavo Rengifo

SVP, Head of Business Transformation

Gustavo Rengifo

Mr. Rengifo is vital in leading the bank’s Portfolio Management, Customer Experience, Business Process, Cash Management, Products, and Marketing. With master’s degrees in mechanical engineering from Universidad Simón Bolívar and Purdue University and an MBA from Kelley School of Business, Mr. Rengifo combines technical expertise with business acumen to drive business transformation and enhance customer-centric initiatives.

Norma Sabo

SVP, General Counsel

Norma Sabo

With extensive legal, regulatory, and transactional experience in the international and financial services industry, Ms. Sabo is a highly qualified professional. Her expertise encompasses Corporate, Banking, Securities, Investment Advisory, and Investment Management. Holding an LLM in Taxation from the University of Miami School of Law, a J.D. from Nova Southeastern University School of Law, and a B.A. in Public Administration from the University of Miami, Ms. Sabo provides valuable legal counsel to the bank, ensuring compliance and effective risk management.

Luis Pereda

SVP, Head of International Banking

Luis Pereda

Mr. Pereda is the Head of International Banking, overseeing the Foreign Correspondent Banking and Foreign Residential Mortgage units. With over 15 years of experience in International Banking, including prior local banking experience, he brings valuable insights to his role. Mr. Pereda holds a B.A. in Finance and International Business and an MBA from Florida International University. His international banking and strategic leadership expertise contribute to the bank’s success in the global marketplace.

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