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Economy

Colombian banks post $472m profits for January – Februrary

by Alex Hocking April 13, 2010
1.6K

economic, money, bank

Colombian banks posted a combined net profit of $472 in January and February, up 0.8% on the same period in 2009, the country´s banking regulator said Monday, reports The Wall Street Journal.

Net profit at Bancolombia, the country´s biggest bank, fell by 2% to $118.4m.

Among foreign-owned banks, the local unit of Spain´s Banco Bilbao Vizcaya Argentaria earned $29m in January and February, up from $28m the previous year. Spain´s Banco Santander reported that net profits had risen more than 50% to $8.27m from $5.17m the previous year. The local unit of UK bank HSBC posted a net loss of almost $1.4m, the largest of all Colombian banks. Last year it posted a net loss of $3.8m in the same period.

The news comes just one month after news that January bank profits were down 29% on 2009 figures.

BancolombiabankingbanksHSBCprofitsSantander

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Colombia News | Colombia Reports
  • News
    • General
    • Analysis
    • War and peace
    • Elections
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    • Sports
    • Science and Tech
  • Travel
    • General
    • Bogota
    • Medellin
    • Cali
    • Cartagena
    • Antioquia
    • Caribbean
    • Pacific
    • Coffee region
    • Amazon
    • Southwest Colombia
    • Northeast Colombia
    • Central Colombia
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  • Profiles
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