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Banesco USA Announces Strong Results for the First Quarter 2025

San Juan, Puerto Rico (June 2, 2025) – Banesco USA, a member of a global network of banks with over $103 billion in assets and serving over 7 million customers worldwide, reported a strong first quarter 2025 with total assets having increased $341 million, or 7.7% to $4.75 billion as of March 31, 2025 from $4.41 billion as of December 31, 2024. The bank achieved a net income of $13.18 million in the first quarter of 2025, along with 12% loan and 33% customer deposit growth over the twelve-month period ending March 31, 2025.

Banesco has continued to demonstrate its growth potential by executing a customer-centric strategic plan based on its deep knowledge on target client segments, personalized customer service and innovative offering of lending products and services.

Building on this momentum, the bank recently expanded into the Broward County, Florida. This strategic move reflects the bank’s commitment to serving high-potential markets with personalized and client-centric banking solutions.

“We’re proud to report another remarkable quarter driven by balanced and sustainable growth in the markets we serve. This strong start of the year is reflected by our commitment on providing exceptional service to our clients, the effectiveness of our long-term strategy, and the trust of our customers. We’re more energized than ever to continue delivering value to our clients, communities and stakeholders.” said Calixto (Cali) Garcia-Velez, President & CEO of Banesco USA.

In Puerto Rico, Banesco USA reported loan and deposit growth of 25% and 45% respectively over the twelve-month period ending first quarter of 2025.

“The growth we’re seeing in our local operations is a direct result of our focused commitment to the commercial segment. By listening to the needs of local business owners and providing flexible, relationship-driven solutions, we’ve been able to earn their trust and support their success. Our team takes great pride in being a true financial partner to the businesses that drive our community forward.”, expressed Maritza Abadía, President of Banesco USA in Puerto Rico.

Banesco USA continues to deploy its aggressive growth strategy in Puerto Rico through the U.S. Treasury Department’s Emergency Capital Investment Program (ECIP). During the first quarter of 2025, Banesco granted $76 million in ECIP qualified loans in Puerto Rico, destined to support the growth of minority-owned businesses, small businesses, and borrowers in underserved communities in the island.

For more information on the bank’s products and services, please visit BanescoUSA.com.

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About Banesco USA
Founded in 2006 and based in Miami, Banesco USA is an independent Florida state-chartered bank with $4.75 billion in assets as of March 31, 2025, with six financial centers between South Florida and Puerto Rico, a Loan Production and Deposit Production Office in Palm Beach County, and a dedicated team in Broward County. 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 serves 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. For more information, please visit banescousa.com.

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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