World’s Best Banks 2026: Latin
Tight financial conditions and relatively strong currencies against the dollar define the Latin American macroeconomic backdrop.
Household cash flows across the region proved mostly resilient, supported by solid labor markets. On the other hand, corporate activity has become more cautious due to higher funding costs and a more uncertain global environment.
In the banking sector, selectivity was the defining theme of the year, as global banks largely maintained their multi-year layoff from non-core markets, while regional players focused more on consolidated scale, where this could be translated into solid returns. As a result, development became more targeted, with institutions prioritizing efficiency by focusing on key geographic areas and sectors where they had clear competitive advantages.
Fintech further cemented its role as a fundamental layer of the region’s financial system, prompting banks to deepen partnerships and use digital platforms to bridge product gaps, accelerate delivery and, at times, expand organically.
The result was a banking model that became more focused, defined by the ability to operate effectively within tight strategic boundaries.
Caribbean economies enter 2025 supported by resilient tourism flows and solid remittance activity. Nevertheless, growth across the region remained moderate due to global uncertainty, tight public finances and a still cautious policy environment.
In Central America, banks relied on strengthening their funding base, aiming to take advantage of the flexibility of household cash flows across the region. While customer and portfolio expansion was mostly moderate, an uptick in remittances during the first half of the year helped support overall profitability. Credit growth remained relatively strong despite some moderation in corporate credit.
This translated into a year defined by efficiency for the industry, as institutions continued to drive greater digital adoption and electronic transactions and focus more on asset quality and operational discipline.
Latin America
Itau Unibanco
Our Best Bank in Latin America, Itau UnibancoStands to transform those conditions into better profitability without compromising balance-sheet quality.
Caribbean
scotiabank
Across the Caribbean region, Scotiabank maintained a strong capital position and disciplined cost management while investing in digital capabilities and customer experience, leading to performance-based profitability, digital adoption and improved credit quality.
Central America
Davivienda
Work on the integration of Scotiabank’s operations in Colombia, Costa Rica and Panama was completed in December 2025, with the bank ending the year with an expanded footprint. Total assets reached $64.3 billion, while its customer base exceeded 27 million in six countries.
argentina
Banco Galicia
In Argentina, Banco Galicia excelled by betting on network expansion and service development during a year defined by the gradual normalization of financial conditions and declining inflation. While the country’s broader economy grew 4.6% in 2025 after a contraction in 2024, the recovery was arguably uneven and focused on the sector, as household consumption declined amid a more challenging labor market.
Against this evolving backdrop, the Bank focused on integrating the recently acquired HSBC Argentina franchise and continuing to expand its best-in-class service network in the country to capture the renewed banking activity. By mid-2025, total wealth was projected to rise to 30.2 trillion Argentine pesos ($25.4 billion), up 33% from a year earlier. Meanwhile, the loan portfolio reached 14.4 trillion pesos, an increase of nearly 95% year-on-year.
Bahamas
Scotiabank Bahamas
Scotiabank Bahamas reaches record profitability with pretax income of $78.3 million in 2025 – the highest in 16 years. The bank has also strengthened its lead in digital banking, with almost all transactions now executed through electronic channels, supporting cost optimization and better customer experience.
barbados
Scotiabank Barbados
Scotiabank Barbados’ net profit rose to 87.4 million Barbadian dollars ($43.7 million), while return on equity reached 23%, reflecting improved efficiency and cost control.
belize
belize bank
bermuda
Butterfield Bank
In Bermuda, Butterfield Bank delivered stable performance supported by a strong balance sheet with total assets of $14.1 billion in 2025.
bolivia
Banco Mercantil Santa Cruz
brazil
BTG Pactual
As a result, the bank posted record numbers across the board. Adjusted return on average equity reached 26.9%, total revenue increased to 33 billion reais, and market capitalization reached 205 billion reais, bolstering investor confidence in one of the region’s most consistently high-performing financial institutions. BTG ended the year with 2.5 trillion reais of assets under custody and management.
In response to the region’s growing sustainability transformation, BTG partnered with the International Finance Corporation to mobilize up to $1 billion in sustainability and development financing across Latin America by 2028.
Cayman Islands
Butterfield Bank
In the Cayman Islands, Butterfield Bank focused on strengthening customer experience and access. In 2025, the bank upgraded its online and mobile platforms for retail and corporate customers. It also launched initiatives such as the Advanced Young Savers Account and Financial Education Partnership.
chile
banco de chile
Banco de Chile delivered another year of consistently outperformance in an economy marked by low inflation, falling interest rates and still sluggish real credit growth, which weighed on sector earnings.
Colombia
banco de bogota
costa rica
BAC Credomatic
In Costa Rica, BAC Credomatic delivered a solid performance in 2025, supported by sustained consumer-lending demand and strong activity in the bank’s payments and cards businesses. BAC maintained a diversified revenue base, balancing loan growth with fee-based income from transaction services.
Dominican Republic
Banner Reserves
Ecuador
produbanco
El Salvador
Banco Cuscatlan
The secret behind Banco Cuscatlán’s above-average performance in El Salvador was its focus on digital expansion and credit flexibility. The bank outperformed the competition, with total assets growing 13.5% year over year to more than $4.8 billion.
guatemala
banco industrial
Guyana
Scotiabank Guyana
honduras
banco ficohsa
Jamaica
National Commercial Bank Jamaica
National Commercial Bank Jamaica delivers a strong rebound in 2025. Net profit more than doubled to 13.2 billion Jamaican dollars ($82.9 million), supported by a 19% increase in total operating income.
Mexico
banorte
That performance was underpinned by the Bank’s growing breadth in commercial and strategic execution. Consumer credit is expected to grow 12% by mid-2025, supported by particularly strong growth in auto loans (30%), credit cards (18%), payroll loans (9%), and mortgages (8%).
Banorte has also deepened its reach by adding retail giant Oxxo to its correspondent network. The bank also expanded its digital capabilities through a renewed partnership with Google Cloud, which aims to enhance AI, analytics and personalization across the franchise.
nicaragua
Banco Lafice Bancentro
During 2025, Banco LAFISE Bancentro in Nicaragua reached record profitability and a highly flexible balance sheet. Net income increased 24% year-over-year to $69.4 million, accounting for 31.1% of total system profit. Return on equity (RoE) increased to 17.2%, making LAFISE the only major bank in the country to improve profitability during the year.
panama
banco general
Net income increased 5.7% year-over-year to $829.3 million. Supported by steady activity across core segments, RoE remained strong at 24.1% and efficiency ratio remained low at 28.3%.
paraguaya
Banco Continental
peru
Banco de Credit del Peru
Puerto Rico
Banco Popular de Puerto Rico
Banco Popular de Puerto Rico showed strong performance in 2025. Net income increased 36% year-over-year to $833 million, supported by solid revenue growth and stable credit quality. Total assets reached approximately $75 billion, with deposits of $66.2 billion and loan balances of approximately $39 billion.
Trinidad & Tobago
Republic Bank
Turks and Caicos
Scotiabank Turks and Caicos
For Scotiabank Turks & Caicos, the focus was on steady growth and customer access. Total assets are expected to grow by 5.2% to $708 million in 2025.
uruguay
banco itaú uruguay
Banco Itaú Uruguay also won the Best Bank award in its country for registering significant growth without sacrificing capital efficiency. In late 2024, the bank expanded its digital-payments capabilities through the acquisition of local fintech Plexo, while continuing to build scale across the bank’s cards and consumer-finance franchises.
U.S. Virgin Islands
firstbank
Venezuela
Mercantil Banco Universal
