Banesco Puerto Rico’s business reports 83% jump in deposits
Banesco USA’s Puerto Rico operation closed the third quarter of 2025 with some of the bank’s strongest numbers, driven by robust lending and deposit growth.
On the island, loans grew 28% and deposits rose 83% during the 12-month period ending Sept. 30. In the first three quarters of 2025, the bank granted $254 million in loans under the U.S. Treasury’s Emergency Capital Investment Program (ECIP) in Puerto Rico.
“We’re thrilled to see our local office achieving results that surpass expectations,” said Maritza Abadía, president of Banesco USA in Puerto Rico, noting that the island “has become a key market in Banesco’s growth strategy.”
“This success is a testament to our dedicated team, the trust of our clients, and the strong relationships we’ve built within the community,” she said. “We remain committed to delivering exceptional service, innovative financial solutions, and continued support for the growth and prosperity of our local businesses.”
At the consolidated level, Banesco USA reported third-quarter 2025 net income of $14 million, a 25% year-over-year increase. Customer loans and deposits rose 17% and 37%, respectively, over the previous 12 months.
The bank, part of a global network of institutions with more than $111 billion in assets and more than 7 million customers, continues to deploy ECIP capital. It reported $900,000 in qualified lending and $2.1 billion in deep-impact lending for a total of $5.2 billion through the third quarter of 2025.
“The bank’s positive financial results reflect a combination of disciplined growth and strategic execution,” said Calixto García-Vélez, CEO of Banesco USA.
“Strong loan portfolio performance, solid credit quality and an expanding deposit base contributed to our outstanding results, demonstrating the effectiveness of the bank’s strategy and its commitment to innovation,” he said.
“This quarter has been very active for Banesco. Every milestone we’ve reached was made possible by our people working together with a shared vision and unwavering commitment to excellence. I couldn’t be prouder of what we’ve accomplished — and of the spirit that continues to drive our success,” García-Vélez added.
During the quarter, Banesco and García-Vélez received several awards recognizing the bank’s impact in South Florida and Puerto Rico:
- Julia Tuttle Award for Community Involvement and Corporate Citizenship by the Greater Miami Chamber of Commerce.
- 2025 Top Corporate Entrepreneurs of USA by Negocios Magazine
- Power Leaders 250 Explained by South Florida Business Journal, honoring regional business leaders
