Banesco USA surpasses $5B in assets, $1B deposits in Puerto Rico
Banesco USA reported strong results for the second quarter of 2025, surpassing $5 billion in assets and reaching $1 billion in deposits in Puerto Rico.
As of June 30, the bank’s assets had grown by $466 million, or 9.8%, to $5.2 billion from $4.7 billion on March 31. Net income for the quarter was $15 million, a 34% increase from the same period last year. Customer loans rose 16% and deposits climbed 31% during the 12-month period ending June 30.
“Our second-quarter results reflect the strength of our local relationships and the trust our customers place in us. With these results, we are well-positioned for continued growth throughout 2025,” said Calixto García-Vélez, president of Banesco USA.
In Puerto Rico, Banesco issued $216 million in Emergency Capital Investment Program loans in the first half of the year. Loan and deposit growth on the island represented 25% and 94%, respectively, over the same 12-month period.
The bank credited the surge in deposits to its certification as a Public Funds Depository Institution and a targeted strategy to attract clients across all business segments.
“Our strong financial performance this quarter is a direct reflection of our commitment to the local economy. By partnering closely with the business sector, we’ve been able to provide the financial tools and guidance needed to drive real progress in our communities,” said Maritza Abadía, president of Banesco USA in Puerto Rico.
