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.
