LatinFinance - November/December 2015 - 57

accompanying the exponential growth of
this business sector," he says. "In general,
the SME sector has been largely unattended
to by financial institutions."
To break the mold, Ficohsa offers its
SME clients credit lines and international
services, such as foreign currency
purchases and international transfers,
which is something new for Honduras'
banking system, Atala says. Cabei
recognized Ficohsa's commitment to SMEs
in Central America and granted a $34
million line of credit to finance the bank's
SME business. "The SME sector needs the
support of the banking sector. In Central
America, SMEs are the backbone of our
economies," Atala says.
Another pillar for Ficohsa's growth
strategy is making a "technologicallyadvanced commitment" to Central
America's young population, Atala says.
"We will soon be launching a new
Ficohsa banking app on smartphones,
allowing our clients to conduct their
banking needs whenever they want
and from wherever they want," Atala
says. "For us local banks, it is important
to have strategies to meet the people's
technological needs and develop products
that correspond with important changes in
the tech space."
Through a combination of personalized
products, a diversified loan portfolio and a
willingness to innovate, Ficohsa has set the
foundation to grow further. The bank ranks
among the top performers in Honduras,
but Atala is aware that expansion
throughout Central America is vital to its
continued success. Central America has
seven countries with small populations,
and each market makes little impact on its
own. The region must be united, and banks
need to lead the move towards integration,
Atala says. With a growing foothold in
Panama, Guatemala and Nicaragua,
Ficohsa is on course to do just that.
Once Ficohsa completes the acquisition
of Citibank's businesses in Nicaragua, Atala
is confident the bank can compete with
the region's largest players, such as BAC
Credomatic and Scotiabank. "As lenders
in Central America, we are all facing
challenges. It's a highly competitive market,
but there are opportunities available," Atala
says.
"Now that most international lenders
have left the consumer banking space, it
is important that we local lenders have
strategies in place in certain areas to
maintain growth." LF

BANK OF THE YEAR MEXICO

BBVA BANCOMER

In a tough year, the winner
upped its customer-service
quotient and took
efficiencies across the
board
In the highly competitive Mexican banking
sector, BBVA Bancomer has proved its
worth during a tough economic climate.
For continued growth across its balance
sheet, the financial services company won
LatinFinance's Bank of the Year Mexico
2015 award.
BBVA Bancomer reached total assets of
1.58 trillion pesos ($94.8 billion) by June of
this year, a gain of more than 1 billion pesos
compared to the same month a year ago.
The bank's net income grew from 13.64
billion pesos to 14.31 billion pesos during
the time period, and deposits at the bank
expanded to 869 billion pesos from 760
billion pesos a year ago.
"The bank's main strategy has been
very clear: stay loyal and build long-term
relationships with clients by providing good
service and a model of customer attention,"
says Eduardo Osuna, who was named
general manager of the bank in May after
serving as general manager of Bancomer's
corporate and institutional banking unit.
"Our main goal is to keep improving.
To achieve that, BBVA Bancomer is
continually developing and implementing
initiatives that allow us to be more efficient,
productive and profitable, while always
keeping our goal to offer the best services

to our clients."
The Mexican economy has grown
slower than expected in recent months.
The country clocked gross domestic
product growth of 2.13% in 2014, below
the International Monetary Fund's
expectations of 2.4%. This year the IMF
forecasts that the country's economy will
expand by 2.4%, down from its estimate of
3.5% a year earlier. Lower oil prices have
cut into state revenues and forced the
government to cut spending. Meanwhile,
the peso has fallen against the dollar by
almost 13% from October 2014 to the same
month this year.
But Osuna says Mexico's economy could
pick up, citing an increase in domestic
consumption. He especially points to a
series of energy and tax reforms that the
government is implementing.
"The expectation for the medium and
long term - not only for the banks but for
the whole Mexican economy - looks very
encouraging. In recent months we have
seen better indicators of internal demand,
such as higher retail sales and better figures
regarding new jobs and real salaries,"
Osuna says.
While the country's economy has grown
at a slower pace, Bancomer has taken steps
to increase its business by offering more
services to clients. For example, a new
Digital Banking unit has been created to up
the number of online customers.
"We have focused on reducing facetime
with customers so they can have quicker
responses to the inquiries that they make,"
says Osuna.
The bank has also combined its
government and business areas with
its corporate and investment banking
department to make operations more
efficient. LF

BANK OF THE YEAR BRAZIL
EDUARDO OSUNA, BBVA BANCOMER

"THE EXPECTATION
FOR THE MEDIUM AND
LONG TERM - NOT
ONLY FOR THE BANKS
BUT FOR THE WHOLE
MEXICAN ECONOMY -
LOOKS VERY ENCOURAGING"

BANCO BRADESCO

Business diversification
is proving the key to resilience in a difficult Brazilian
market
Amid Brazil's difficult political and
economic environment, Banco Bradesco
stands out against its peers for the
diversification of its business, including its

November/December 2015 - L ATINFINA NCE.COM 57
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