MIAMI--(BUSINESS WIRE)--Banesco USA has received $11,906,362 capital injection from its shareholders to continue its growth and technological innovations across South Florida in 2019. The increase in capital marks a highly successful year for the local bank.
“2018 was a record-breaking year for us,” said Jorge Salas, Banesco USA President and CEO. “We embarked on a series of new fintech partnerships this year, streamlined our website and mobile banking platform, and surpassed all of our benchmark financial figures from 2017. We look forward to continuing this pattern of growth and innovation in 2019,” he added.
Among its 2018 highlights, the Coral Gables-based bank achieved $131 million in loans over the past 12 months, increasing its total loans by 16 percent.
Banesco USA also reported $202 million in assets over the last 12 months, an increase of 19 percent, and $181 million in deposits over the last 12 months, an increase of 20 percent.
The bank’s year-to-date net income as of December 2018 was $12.9 million.
Looking forward to 2019, Banesco USA will open a new branch in Aventura Park Square, a mixed-use development in Aventura with 55,000-square-feet of retail space featuring a variety of restaurants and cafes.
“It will be our signature branch, a new branch concept that we are excited to unveil to our community,” said Salas. Earlier in 2018, the bank opened a branch in Hialeah, part of its branch network expansion plans despite a nationwide trend of branch closures.
About Banesco USA
Founded in 2005 and based in Coral Gables, Banesco USA is an independent Florida state-chartered bank (https://banescousa.com/OFR-Cert-of-Good-Standing.pdf) with $1.28 billion in assets as of December 31st, 2018. Banesco USA is completely independent of Banesco in other countries and its deposits are insured by the FDIC. The bank has four branches in South Florida: Coral Gables, Doral, Hialeah and Weston; and one in San Juan, Puerto Rico. It plans to open a branch in Aventura, FL in first quarter of 2019. Banesco USA has a 5-star rating from the Bauer Financial rating service and a BB- Fitch Rating. Visit www.BanescoUSA.com for information.