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List of banks in the Americas

From Wikipedia, the free encyclopedia

This is a list of the banks in the Americas.

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Transcription

The international banking system is an enigma. There are more than 30,000 different banks worldwide and they hold unbelievable amounts of assets. The top 10 banks alone account for roughly 25 Trillion U.S. Dollars. Today, Banking can seem very complex, But originally, the idea was to make life simpler. 11th Century Italy was the center of European Trading. Merchants from all over the continent met to trade their goods. But there was one problem, too many currencies in circulation. In Pisa, merchants had to deal with seven different types of coins and had to exchange their money constantly. This exchange business, which commonly took place outdoors on benches, is where we get the word bank from. From 'banco,' Italian for bench. The dangers of traveling, counterfeit money, and the difficulty of getting a loan got people thinking. It was time for a new business model. Pawn brokers started to give credit to businessmen, while genoese merchants developed cashless payments. Networks of banks spread all over Europe handing out credit, even to the church or european kings. What about today? In a nutshell, banks are in the risk management business. This is a simplified version of the way it works. People keep their money in banks and receive a small amount of interest. The bank takes this money and lends it out at much higher interest rates. It's a calculated risk because some of the lenders will default on their credit. This process is essential for our economic system because it provides resources for people to buy things like houses or for industry to expand their business and grow. So banks take funds that are unused by savers and turns them into funds society can use to do stuff. Other sources of incomes for banks include accepting saving deposits, the credit card business, buying and selling currencies, custodian business, and cash management services. The main problem with banks nowadays is that a lot of them have abandoned their traditional role as providers of long term financial products in favour of short term gains that carry much higher risks. During the financial boom, most major banks adopted financial constructs that were barely comprehensible and did their own trading in their bid to make fast money and earn their executives and traders millions in bonuses. This was nothing short of gambling and damaged whole economies and societies. Like back in 2008, when banks like Lehman Brothers gave credit to basically anyone who wanted to buy a house and thereby put the bank in an extremely dangerous risk position. This lead to the collapse in the housing market in the US and parts of Europe causing stock prices to plummet. Which eventually lead to a global banking crisis, and one of the largest financial crisis in history. Hundreds of billions of dollars just, evaporated. Millions of people lost their jobs and lots of money. Most of the worlds major banks had to pay billions in fines and bankers became some of the least trusted professionals. The US government and the European Union had to put together huge bail out packages to purchase bad assets and stop the banks from going bankrupt. New regulations were put into force to govern the banking business: Compulsory bank emergency funds were enforced, to absorb shocks in the event of another financial crisis. But, other pieces of tough new legislation were successfully blocked by the banking lobby. Today, other models of providing financing are gaining ground fast. Like new investment banks that charge a yearly fee and do not get commissions on sales. Thus, providing the motivation to act in the best interest of their clients. Or, Credit Unions: Corporate initiatives that were established in the 19th century to circumvent credit sharks. In a nutshell: they provide the same financial services as banks, but focus on shared value rather than profit maximization. The self proclaimed goal is to help members create opportunities like starting small businesses, expanding farms, or building family homes while investing back in to communities. They are controlled by their members, who also elect a board of directors democratically. World wide Credit Union systems vary significantly ranging from a handful of members to organizations worth several billion US Dollars and hundreds of thousands of members. The focus on benefits for their members impact the risk Credit Unions are willing to take. Which explains why Credit Unions, although also hurting, survived the last financial crisis way better than traditional banks. Not to forget: the explosion in Crowdfunding in recent years. Aside from making awesome video games possible, platforms arose that enabled people to get loans from large groups of small investors. Circumventing the bank as a middle man. But it also works for industry. Lots of new technology companies started out on Kickstarter or Indigogo. The funding individual gets the satisfaction of being part of a bigger thing and can invest in ideas they believe in. While spreading the risk so widely, that if the project fails the damage is limited. And last but not least: Micro Credits. Lots of very small loans, mostly handed down to developing countries that help people escape poverty. People who were previously unable to get access to the money they needed to start a business because they weren't deemed worth the time. Nowadays the granting of Micro Credits has evolved into a multi-billion dollar business. So, banking might not be up your street. But the banks role of providing funds to people and businesses is crucial for our society, and has to be done. Who will do it and how it will be done in the future is up for us to decide, though. Subtitles by the Amara.org community

Argentina

See Category:Banks of Argentina

Bahamas

Central bank

Government-owned banks

Commercial banks

Barbados

Central bank

Commercial banks

Foreign-owned banks

Development banks

Belize

Central bank

Development bank

Major privately owned banks

Bermuda

Bolivia

Central bank

Law-recognized state banks

  • Banco Unión

Second-floor banks

  • Banco de Desarrollo Productivo

Multiple banks

Small and Medium Enterprise-focused Banks

  • Banco PyME Ecofuturo
  • Bancomunidad

Foreign banks

Defunct banks

  • Banco Agrícola de Bolivia
  • Banco Boliviano Americano
  • Banco de Credito Oruro
  • Banco de Cochabamba
  • Banco de Financiamiento Industrial
  • Banco de La Paz
  • Banco de la Vivienda
  • Banco de Potosí
  • Banco de San Carlos
  • Banco del Progreso
  • Banco Fassil
  • Banco Intenacional de Desarrollo
  • Banco Minero de Bolivia
  • Banco PyME Los Andes ProCredit
  • Banco Santa Cruz
  • Banco Sur
  • BHN Multibanco
  • Citibank

Brazil

Central bank

Development banks

Major commercial banks

Government-owned banks

Private-owned banks

Other commercial banks

Government-owned banks

Private-owned banks

Online banks

Cooperative banks

Investment banks

Merged or defunct banks

Canada

Main article: List of banks and credit unions in Canada

Chile

Central bank

Government-owned banks

Commercial banks

Foreign-owned

Neobanks

Enterprise banks

  • Citibank Chile

Foreign banks with representation

Merged or defunct banks

Commercial banks

Enterprise banks

Colombia

Central bank

Commercial banks

Government-owned banks

Defunct banks

Costa Rica

Central bank

Government-owned banks

Defunct banks

Commercial banks

Cuba

Main article: List of banks in Cuba

Central bank

Commercial banks

  • Banco de Crédito y Comercio
  • Banco de Inversiones
  • Banco Exterior de Cuba
  • Banco Financiero Internacional
  • Banco Industrial de Venezuela-Cuba
  • Banco Internacional de Comercio
  • Banco Metropolitano
  • Banco Nacional de Cuba
  • Banco Popular de Ahorro

Dominica

Commercial banks

Branches of foreign banks

Foreign-owned banks

Offshore banks

  • Griffon Bank

Dominican Republic

Main article: Banks of the Dominican Republic

Central bank

Major banks

Ecuador

Main article: List of banks in Ecuador

Central bank

Major banks

El Salvador

Central bank

Major banks

Grenada

Commercial banks

  • Grenada Co-operative Bank (only locally owned bank)

Branches of foreign banks

Foreign-owned banks

Guyana

Central Bank

Commercial banks

Foreign-owned banks

Honduras

Central bank

Banks

  • Banco Atlantida
  • Banco FICOHSA
  • Banco de Occidente
  • Banco del Pais
  • Banco BAC-Bamer
  • Banco Promerica
  • Banco de Los Trabajadores
  • Banco Popular

Foreign Banks

Jamaica

Central bank

Commercial banks

Locally owned banks

  • First Global Bank (Parent -Grace Kennedy)
  • National Commercial Bank (NCB)
  • Jamaica Money Market Brokers (JMMB)
  • Sagicor Bank

Subsidiary/branch of foreign entity

  • The Bank of Nova Scotia (Parent - Scotia Bank)
  • Citibank Jamaica (Parent - Citibank)
  • CIBC Caribbean (Parent - CIBC)
  • National Commercial of Jamaica (Parent -Portland Holdings)

Merchant banks

Locally owned banks

  • Cornerstone Trust & Merchant Bank

Subsidiary/branch of foreign entity

  • Scotia Investments (Parent -The Bank of Nova Scotia)

Mexico

Main article: List of banks in Mexico

Panama

Commercial local banks

  • Banco General (merger between Banco General and Banco Continental)
  • Global Bank
  • Multibank
  • Metrobank
  • Banco Universal
  • Banvivienda (part of Grupo Mundial)
  • Bancafé
  • Banco Aliado
  • Credicorp Bank

Government-owned banks

Foreign-owned banks

  • HSBC (merger between Panama's largest banking group Grupo Banistmo and HSBC Panama)
  • Citibank (subsidiary of Citigroup which merged with Banco Uno and Banco Cuscatlan)
  • Banco Bilbao Vizcaya Argentaria
  • Banco Atlantico Panama (subsidiary of Banco Santander)
  • Scotiabank

Paraguay

Central bank

Other banks

Peru

Central bank

Commercial banks

Development banks

  • Banco de Materiales
  • Agrobanco

Defunct banks

  • Banco Wiese Sudameris
    Sold to and rebranded as Scotiabank in 2006
  • Banco Sudamericano
    Sold to and rebranded as Scotiabank in 2006
  • Banco Santander
    Operations in Peru acquired by Banco de Credito del Peru (Santander returns to Peru in 2007)
  • BankBoston
    Peruvian operations acquired by Banco de Credito del Peru
  • Banco de Lima Sudameris
    Merged with Banco Wiese and rebranded as Banco Wiese Sudameris
  • NBK Bank
  • Banco del Pais
  • Banco Republica
  • Bancosur
    Merged with Banco Santander and rebranded as Banco Santander Central Hispano
  • Banco Solventa
  • Serbanco
  • Banco Latino
    Operations acquired by Interbank
  • Banco Interandino
    Acquired by Banco Santander
  • Banco Mercantil
    Acquired by Banco Santander
  • Banco del Progreso
  • Banco de Desarrollo
  • Banco Popular del Peru
  • Banco CCC
  • Surmeban top Gen
  • Banpeco
  • Bancoop
  • Banco Agrario
  • Banco Hipotecario
  • Banco Industrial del Peru
  • Banco Minero
  • Banco Comercial del Peru

Saint Lucia

Commercial banks

Branches of foreign banks

Foreign-owned banks

Saint Vincent and the Grenadines

Central bank

Commercial banks[17]

Offshore banks

  • Loyal Bank Limited
  • United Bank Limited
  • European Commerce Bank
  • Safe Harbor Bank Ltd.
  • Trend Bank Ltd.
  • Millennium Bank Inc.

Suriname

Central bank

Commercial banks

  • De Surinaamsche Bank
  • Hakrinbank
  • Surinaamse Volkscredietbank
  • Surinaamse Postspaarbank
  • Landbouwbank
  • Surichangebank
  • Finabank
  • Cooperatieve spaar- en kredietbank Godo

Foreign-owned banks

Trinidad and Tobago

Central Bank

  • The Central Bank of Trinidad and Tobago

Other Banks

United States

Main article: List of largest banks in the United States

Uruguay

Central Bank

State-owned

Private

  • Banco Bandes Uruguay S.A.
  • Banco Itaú Uruguay S.A.
  • Scotiabank Uruguay S.A. (ex. Nuevo Banco Comercial S.A.)
  • Discount Bank (Latin America) S.A.
  • Banco Santander S.A.
  • Banco Bilbao Vizcaya Argentaria Uruguay S.A.
  • HSBC Bank (Uruguay) S.A.
  • Banco Surinvest S.A.
  • Citibank N.A. Sucursal Uruguay
  • Lloyds TSB Bank plc
  • Banco de la Nación Argentina

Venezuela

Main article: List of banks in Venezuela

Central bank

Government-owned banks

Commercial banks

Defunct banks

Largest banks in the Americas

The 15 largest banks in the Americas by total assets, as of 2019.[18]

Rank Bank name Country Total assets
(billions of US$)
1 JPMorgan Chase & Co.  United States $2,622.53
2 Bank of America  United States $2,354.51
3 Citigroup Inc.  United States $1,917.38
4 Wells Fargo & Co.  United States $1,895.88
5 Royal Bank of Canada  Canada $1,039.24
6 Toronto-Dominion Bank  Canada $1,006.00
7 Goldman Sachs  United States $931.80
8 Morgan Stanley  United States $853.53
9 Scotiabank  Canada $785.44
10 Bank of Montreal  Canada $613.56
11 Canadian Imperial Bank of Commerce  Canada $467.55
12 U.S. Bancorp  United States $467.37
13 Truist Financial  United States $441.24
14 Banco Itaú  Brazil $401.10
15 PNC Financial Services  United States $382.32

See also

References

  1. ^ Vera, Vicente (2022-03-10). "Itaú Unibanco se prepara para salida de CorpGroup y busca evitar una OPA sobre el banco en Chile". Diario Financiero (in Spanish). Retrieved 2022-10-28.
  2. ^ "Bank of Nova Scotia llega a acuerdo con Grupo Said para comprar la totalidad de acciones de Scotiabank Chile". Diario Financiero (in Spanish). 2022-02-28. Retrieved 2022-10-28.
  3. ^ Arenas, Vanessa (2022-04-06). "Tenpo: el camino del neobanco que llegó a Chile para expandirse en plena pandemia". Forbes Chile (in Spanish). Retrieved 2022-10-28.
  4. ^ "DNB in Chile - Banking the Norwegian way - DNB".
  5. ^ "Banco Edwards and Banco de Chile Announce Intention to Merge". Quiñenco. 2001-08-08. Retrieved 2022-10-28.
  6. ^ Rojas, Ingrid (2020-02-11). "Scotiabank Chile se consolida tras fusión con BBVA". LexLatin (in Spanish). Retrieved 2022-10-28.
  7. ^ "Fusión entre Scotiabank y Banco del Desarrollo registra 70% de avance". Diario Financiero (in Spanish). 2009-04-29. Retrieved 2022-10-28.
  8. ^ "Banco Santiago (1997). Se concede autorización para fusión con Banco Santander-Chile". CMF (in Spanish). 2002-05-16. Retrieved 2022-10-28.
  9. ^ "Banco Santander-Chile (2002). Venta, cesión y transferencia a Empresas Almacenes Paris S.A., sociedad matriz del nuevo Banco Paris, de activos financieros e intangibles de la División Santiago-Express". CMF (in Spanish). 2001-12-06. Retrieved 2022-10-28.
  10. ^ Zúñiga, Christian (2016-01-11). "Cencosud inicia cierre de Banco Paris y enfoca negocio financiero en Scotiabank". Emol (in Spanish). Retrieved 2022-10-28.
  11. ^ Catrón, Jimena (2015-07-08). "Banco Penta cierra venta con el Banco de Chile e informa operación a SBIF". Diario Financiero (in Spanish). Retrieved 2022-10-28.
  12. ^ Keller, Nicole (2006-05-03). "Banco Itaú dice que la compra del Boston en Chile está "99% segura"". Economía y Negocios (in Spanish). Retrieved 2022-10-28.
  13. ^ "BCorpBanca y Banco Itaú Chile concretan su fusión definitiva". T13 (in Spanish). 2006-05-03. Retrieved 2016-04-01.
  14. ^ "Banco de Chile y HSBC se fusionan en Chile". El Economista (in Spanish). 2007-07-20. Retrieved 2022-10-28.
  15. ^ "Financista acuícola-pesquero: Rabobank deja de ser banco en Chile". Aqua (in Spanish). 2017-05-04. Retrieved 2022-10-28.
  16. ^ Vera, Vicente (2020-09-22). "Las huellas que dejó el Deutsche Bank en su paso por Chile". Diario Financiero (in Spanish). Retrieved 2022-10-28.
  17. ^ "Saint Vincent and The Grenadines | Eastern Caribbean Central Bank". www.eccb-centralbank.org. Retrieved 2021-11-17.
  18. ^ "The world's 100 largest banks". www.spglobal.com.

External links

This page was last edited on 8 April 2024, at 19:50
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