Pan Finance Spotlight Series: Banesco US

Banesco USA , founded in 2006, is an independent Florida state-chartered bank dedicated to enhancing the well-being of clients and fortifying community futures through innovative banking solutions and personalised service. With a focus on revolutionising the banking landscape, Banesco USA serves both domestic and international clients, including the commercial and real estate sectors, small and middle-market businesses, professionals, and operating companies.

As a member of the Federal Deposit Insurance Corporation (FDIC), Banesco USA offers the security and peace of mind that come with knowing funds are protected. The bank operates six offices across South Florida and Puerto Rico, along with a loan and deposit production office in West Palm Beach, demonstrating its commitment to accessibility and client-centric service.

Banesco USA stands out in the industry through its commitment to transparency, integrity, and exceptional customer service. The bank leverages cutting-edge technology and digital capabilities to create seamless banking experiences, empowering clients with innovative financial solutions and personalised guidance. This dedication ensures that businesses, individuals, and families can confidently thrive in an ever-changing financial landscape.

Regulated by the Office of Financial Regulation (OFR), Banesco USA operates independently of Banesco in other countries.

As of December 31, 2023, Banesco USA reported assets of $3.81 billion, loans of $2.88 billion, total deposits of $3 billion, and a net income of $25.28 million. These figures underscore the bank's robust financial health and ability to support its clients effectively.

Banesco USA places a high priority on social responsibility, investing in programmes that empower individuals, support economic development, protect the environment, and improve quality of life. The bank encourages and rewards employees who volunteer their time and talent to strengthen financial literacy, mentor future business leaders, and positively impact the community.

The bank supports the AAA Scholarship Foundation, which empowers economically disadvantaged families and children with disabilities to select suitable K-12 schools. Banesco USA, together with Banesco Internacional and ABANCA, embodies a powerful commitment to innovation, excellence, and customer-centric financial solutions. This collective strength positions them as leading forces in the global financial landscape, dedicated to driving progress and inspiring customers across the communities they serve.

Executive Management:

Calixto (Cali) Garcia-Velez , President & CEO

Maria Mercedes Escotet , EVP, Chief Corporate Governance Officer

Leticia Pino , EVP, Chief Administrative Officer

Maritza Abadia , EVP, Puerto Rico Market President

Julio Valle , EVP, Chief Information Officer

Kenneth Schoeni , EVP, Chief Financial & Risk Officer

Michel Vogel , SVP, Chief Credit Officer

Gustavo Rengifo, SVP, Head of Business Transformation

Norma Sabo, SVP, General Counsel

Luis Pereda, SVP, Head of International Banking