Banpro

Stock performance

History

Banco de la Producción (Banpro) was founded in 1991, after the end of the Sandinista-era state banking monopoly allowed private banks to return to Nicaragua. It grew into the country's largest bank and is part of Grupo Promerica, a regional financial group with banks across Central America, the Caribbean, and Ecuador.

Business model

Banpro provides retail, corporate, and agricultural banking, with thousands of service points nationwide, including agents in shops, and is a major channel for remittance payments and consumer credit.

Market position

Banpro is Nicaragua's largest bank by assets and deposits, ahead of BAC Credomatic and Banco LAFISE.

Country impact

Nicaragua's banking system suffered heavy deposit outflows during the 2018 political crisis, and as the largest bank Banpro was central to keeping credit and payments flowing through that period and the slow recovery after it.