Business: BicBanco Q4 profits jump 280% after rough 4Q08, sees significant loan growth in 2010

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Banking News - Thursday, February 11, 2010

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* BicBanco Q4 profits jump 280% after rough 4Q08, sees significant loan growth in 2010 - Brazil

Brazilian midsize bank BicBanco has pulled off a 280% increase in its 4Q09 profits after a difficult 4Q08 and expects to stay well above market levels of loan growth in 2010, executive VP Milto Bardini told BNamericas.

Net income for 4Q09 was 85.9mn reais (US$46.6mn) compared to 22.5mn reais in 4Q08, when increases in loan loss provisions ate away at profits, according to the bank's fourth quarter figures.

ROAE was 21.2% in 4Q09, compared to 19.0% in 3Q09 and just 4.9% in 4Q08, while BicBanco' ... more
http://www.bnamericas.com/news/banking/BicBanco_Q4_profits_jump_280*_after_rough_4Q08,_sees_significant_loan_growth_in_2010/173857923

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* Manuel Méndez del Río PiovichChairman - Fundación Microfinanzas BBVA<p><em>For the past three decades, Fundación Microfinanzas BBVA has been dedicated to promoting microfinancial development in Latin America by creating entities that provide loans for those una... more

http://www.bnamericas.com/interviews/banking/Manuel_Mendez_del_Rio_Piovich_,Fundacion_Microfinanzas_BBVA,/173857923

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