Banesco USA Reports Positive 2018 First Quarter Results

Coral Gables, FL, May 8, 2018 –

Banesco USA announced today strong results for its First Quarter Earnings of $1.8 million and an ROE of 7.81%; an increase of 129% compared to first quarter results of 2017. For the last 12 months, total assets grew 9% with loans growing $79 million or 11% and deposits growing $96 million or 11%.

The net interest margin also increased in the last 12 months from 3.53% to 3.83% and is one of the best in the South Florida market. Net interest income also increased in the past year and was 14% higher than first quarter results of 2017. Furthermore, Banesco USA is well capitalized with Tier 1 Capital Ratio of 11.40%.

“We are excited to see very positive results from our strategy to grow presence in the South Florida and Puerto Rico markets. Our bank’s continued growth and expansion in the U.S. market is a true evidence of the hard work of every member of Banesco USA, and a vote of confidence from our clients.” said Banesco USA’s President and CEO Jorge Salas.

About Banesco

Founded 12 years ago and based in Coral Gables, Banesco USA assets were $1.071 billion as of March 31, 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.

Banesco USA has a 5-star rating from the Bauer Financial rating service. Visit www.BanescoUSA.com for more information about Banesco USA.

The information provided by Banesco USA ("we," "us," or "our'') is for general informational purposes only and is not intended as legal, tax, investment, financial or other advice or a substitute for professional advice. The information is general in nature and does not address the circumstances of any particular individual or entity, and is not comprehensive or a complete statement of the matters discussed herein. All information contained herein is provided in good faith, however, we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information provided herein. The information provided may contain information from third parties or other sources. We do not warrant, endorse, guarantee, or assume responsibility for the accuracy or reliability of any information offered by third parties. Under no circumstances shall we have any liability to you for any loss or damages of any kind incurred as a result of the use of or reliance on any information provided herein. Your use and reliance on any information provided herein is solely at your own risk.
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