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Banesco USA Gets More than $11 Million in Capital to Fuel Growth

Banesco USA has received approximately an $11.9 million 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.”

Banesco USA also reported $202 million in assets over the last 12 months, an increase of 19 percent, and $181 million in deposits during the same period, 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 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 bank closures, a release stated.

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