NEW YORK, NY–(Marketwired – Nov 11, 2015) – Grupo Financiero Ficohsa has been named Bank of the Year and Bank of the Year Honduras in LatinFinance’s 2015 Bank of the Year Awards. In Costa Rica, LatinFinance selected BAC San Jose as Bank of the Year.

The winners of this year’s awards employed nimble strategies that reflected a keen market understanding, focusing on efficiency and increasing market inclusion. Banco Financiero Ficohsa stood amongst its peers in the region for combining ambitious acquisitions with a bespoke strategy for long-term growth.

BAC San Jose was recognized for its lending and transactional operations in the country with the worst sovereign credit outlook as determined by Fitch Ratings earlier this year. The short-to-medium-term outlook is bleak in Costa Rica. GDP growth forecasts have been bumped down from 3.4% to 2.8% in 2015 and unemployment is on the rise. BAC San Jose’s corporate bonds also received a negative outlook evaluation by Fitch, but the LatinFinance award recognizes the bank’s commitment to remain solid for the benefit of its clients.

“Banco Financiero Ficohsa’s diverse approach to growth in the past year makes it unique in the region. While many international lenders are exiting Central America, Ficohsa saw, and acted on, the opportunities presented with these departures,” Katie Llanos-Small, Editor-In-Chief of LatinFinance, says.

Ficohsa snapped up Citi’s consumer and credit card businesses in Honduras in July 2014 and also agreed to buy Citibank’s consumer business in Nicaragua less than a year later.

The editorial team at LatinFinance selected the winners after an extensive, detailed process. Shortlists for country categories included the biggest banks by assets in each country, while investment banking shortlists were comprised from leaders in local capital markets league tables. LatinFinance considered extensive financial data for well over 140 institutions throughout the region, as well as market analysts’ opinions and supporting documentation from the institutions themselves. An online survey, which garnered a record number of responses, rounded out the process.

Other winners in LatinFinance’s Bank of the Year Awards include Bradesco, Banco de Chile and BBVA Bancomer. Winners in investment banking include Banca de Inversión Bancolombia, Banamex and Itaú BBA. A full list of winners is below and available at www.latinfinance.com/boty.

LatinFinance Bank of the Year Awards winners:

The LatinFinance Bank of the Year Awards recognize financial institutions in Latin America and the Caribbean that have demonstrated excellence in retail, commercial and investment services between July 1, 2014 and June 30, 2015.

Bank of the Year Grupo Financiero Ficohsa

• Argentina Banco Macro
• Bolivia Banco Mercantil Santa Cruz
• Brazil Bradesco
• Brazil Investment Bank Itaú BBA
• Caribbean Republic Bank
• Central America BAC Credomatic
• Chile Banco de Chile
• Chile Investment Bank Banchile-Citi
• Colombia Bancolombia
• Colombia Investment Bank Banca de Inversión Bancolombia
• Costa Rica BAC San José
• Dominican Republic BanReservas
• Ecuador Banco Pichincha
• El Salvador Banco Agrícola
• Guatemala Banco Industrial
• Honduras Grupo Financiero Ficohsa
• Jamaica National Commercial Bank
• Mexico BBVA Bancomer
• Mexico Investment Bank Banamex
• Microfinance Fundación Delamujer
• Multilateral Inter-American Development Bank
• Nicaragua Banco Lafise Bancentro
• Panama Banco General
• Paraguay Banco Continental
• Peru Scotiabank Peru
• Trinidad Republic Bank
• Uruguay Banco de la República Oriental del Uruguay
• Venezuela BBVA Provincial

Selection process:

The awards are selected by LatinFinance’s editors. The selection process takes into account financial data for banks over the reference period, including but not limited to total assets, capital ratios, return on equity and return on assets, as well as market opinion, a review of local league tables and supporting documentation from banks themselves. For more information on the awards, please visit www.latinfinance.com/boty.

About LatinFinance

Since 1988 LatinFinance has distinguished itself as a leading source of intelligence on the financial markets and economies of Latin America and the Caribbean. Published from New York and Miami, with a network of correspondents across the region, the Daily Brief delivers the latest news and deal coverage, while the magazine and data-intensive website, latinfinance.com, add the further context and analysis required to do business in these fast-moving markets. Covering debt, equity, structured finance, syndicated loans, private equity and M&A, as well as multilateral financing, people moves and secondary trading, LatinFinance is the essential provider of news and analysis that can’t be found anywhere else. For more information please visit latinfinance.com.