Banesco

Banesco USA Expands Commercial & Industrial and Domestic Premier Banking & Residential Lending Capabilities

Retrieved on: 
Thursday, October 5, 2023

“We remain bullish on South Florida as the appetite for lending across all sectors is high, and Banesco is actively looking to deploy capital,” said Calixto (Cali) Garcia-Velez, President & CEO of Banesco USA.

Key Points: 
  • “We remain bullish on South Florida as the appetite for lending across all sectors is high, and Banesco is actively looking to deploy capital,” said Calixto (Cali) Garcia-Velez, President & CEO of Banesco USA.
  • In addition to building the bank’s domestic residential loan programs, Mr. Mechoso, as Head of Domestic Premier Banking, will focus on attracting new business from high-net-worth individuals and companies.
  • The Premier Banking team, with the addition of Chris Cabrera, Damian Penichet and Natalee Keller, will deliver a differentiated and highly personalized banking experience.
  • By placing an emphasis on these divisions, Banesco is ensuring the bank’s capabilities of covering the sectors and companies driving South Florida’s economy.

ArtCap Strategies Co-Arranges With Apollo Global Funding LLC, a USD 90 Million Senior Secured Term Loan for Banesco (Panama) S.A.

Retrieved on: 
Wednesday, July 26, 2023

The loan proceeds will be utilized to fund the growth of Banesco's consumer loan portfolios and general corporate purposes.

Key Points: 
  • The loan proceeds will be utilized to fund the growth of Banesco's consumer loan portfolios and general corporate purposes.
  • "We are delighted to have successfully closed this senior secured term loan for Banesco," said Antonio Navarro, Managing Partner at ArtCap Strategies.
  • "We are pleased to have secured this facility for Banesco, which will fuel the growth of our franchise in the country," stated Juan Yague, CFO of Banesco.
  • "ArtCap Strategies' expertise in executing structured financings has proven invaluable for Banesco, and we appreciate their commitment to providing tailored solutions that meet our needs."

MoneyGram Continues to Scale Digital Receive Network with New Account Deposit Service in Venezuela

Retrieved on: 
Thursday, July 27, 2023

DALLAS, July 27, 2023 /PRNewswire/ -- MoneyGram International, Inc. ("MoneyGram" or the "Company"), a leading global financial technology company that connects the world's communities, today announced a new account deposit service for consumers in Venezuela. Through the Company's partnership with Banesco, one of the largest banks in Venezuela, consumers in the country can now receive money directly to their Banesco bank account in near real-time.

Key Points: 
  • Through the Company's partnership with Banesco , one of the largest banks in Venezuela, consumers in the country can now receive money directly to their Banesco bank account in near real-time.
  • "As consumer preference continues to shift online, one of our key strategic priorities is the global expansion of digital receive options.
  • The introduction of this new account deposit service in Venezuela – one of the fastest growing receive markets in the world – is especially exciting as it creates immense value for a customer base that truly relies on our services."
  • "We are thrilled to now offer this new account deposit service in partnership with MoneyGram.

Erbi Blanco-True Named Community Relations Director at Banesco USA

Retrieved on: 
Monday, April 3, 2023

MIAMI, April 3, 2023 /PRNewswire/ -- Banesco USA, a Florida state-chartered bank headquartered in East Doral with $3 billion in assets, announced the engagement of Erbi Blanco-True as its Community Relations Director.

Key Points: 
  • MIAMI, April 3, 2023 /PRNewswire/ -- Banesco USA, a Florida state-chartered bank headquartered in East Doral with $3 billion in assets, announced the engagement of Erbi Blanco-True as its Community Relations Director.
  • Banesco USA offers customized banking solutions and personalized customer service to consumer, commercial real estate, business, and professional clients.
  • The addition of Ms. Blanco-True complements the bank's continued commitment to the community and strengthening the relationship with the bank's community partners throughout South Florida and Puerto Rico.
  • Prior to joining Banesco USA, Ms. Blanco-True served as the Florida Community Development Manager for First Horizon Bank in Coral Gables and CRA Officer and Director of Community Development for Great Florida Bank in Miami.

Banesco USA Expands in Palm Beach

Retrieved on: 
Monday, February 27, 2023

MIAMI, Feb. 27, 2023 /PRNewswire/ -- Banesco USA, an independent Florida state-chartered bank headquartered in East Doral, announces the expansion to the Palm Beach market as an integral step in the execution of its corporate growth strategies.

Key Points: 
  • MIAMI, Feb. 27, 2023 /PRNewswire/ -- Banesco USA, an independent Florida state-chartered bank headquartered in East Doral, announces the expansion to the Palm Beach market as an integral step in the execution of its corporate growth strategies.
  • The Palm Beach target market includes commercial real estate and middle-market business clients, as well as business executives and professionals.
  • "Palm Beach is a growing expanding community; a great fit of Banesco USA's strategic target markets.
  • "We are confident this team with extensive roots in Palm Beach will accelerate our growth in the region."

Banesco USA Selects AML RightSource's AI-Powered Technology to Improve Enhanced Due Diligence Investigations

Retrieved on: 
Wednesday, February 22, 2023

CLEVELAND, Feb. 22, 2023 /PRNewswire-PRWeb/ -- AML RightSource, the leading provider of Anti-Money Laundering ("AML"), Know Your Customer ("KYC") and Bank Secrecy Act ("BSA") compliance solutions, announced today that Florida-based bank Banesco USA has selected its Automated EDD (Enhanced Due Diligence) solution for efficient, compliant customer risk reviews with streamlined, AI processes that deliver detailed assessments and reporting.

Key Points: 
  • AML RightSource's AI-powered Automated EDD solution assists Banesco in efficiently conducting periodic risk reviews using Bank customer and corporate registry data.
  • Focal entities and their counterparties are evaluated across a broad array of risk-bearing characteristics, including adverse media, PEP/SOE, watchlists, cryptocurrencies and more.
  • The solution uses this information to produce algorithmic risk scores and dynamically determine customer risk segmentation based on definitions established by Banesco.
  • Additionally, the Compliance and IT teams at Banesco benefit from AML RightSource's secure cloud-based environment, ensuring full implementation in less than 90 days.

Banesco USA Appoints José B. Carrión III to its Board of Directors

Retrieved on: 
Wednesday, February 1, 2023

CORAL GABLES, Fla., Feb. 1, 2023 /PRNewswire/ -- Banesco USA announces the appointment of José B. Carrión III to its Board of Directors, as part of the bank's continued growth and expansion in Puerto Rico.

Key Points: 
  • CORAL GABLES, Fla., Feb. 1, 2023 /PRNewswire/ -- Banesco USA announces the appointment of José B. Carrión III to its Board of Directors, as part of the bank's continued growth and expansion in Puerto Rico.
  • "Mr. Carrión has a vast experience and track record in community leadership and driving sustainable growth for leading firms particularly in the Puerto Rico market, and is a much-welcomed addition to our team of directors," said Carlos Palomares, Chairman of the Board of Banesco USA.
  • From 2016 to 2020, Mr. Carrión served as board chairman of the Federal Oversight Management Board of Puerto Rico.
  • "It is indeed a pleasure to accept a position on the board of directors for such a prestigious banking institution as Banesco USA," Carrión added.

Banesco USA Announces the Relocation of their Corporate Headquarters to a New Ultra-Modern Facility

Retrieved on: 
Tuesday, January 31, 2023

MIAMI, Jan. 31, 2023 /PRNewswire/ -- Banesco USA, an independent Florida state-chartered bank with upwards of $2.78 Billion in assets and six locations between South Florida and Puerto Rico, has moved its Miami headquarters to a new, upgraded facility centrally located in East Doral at 3155 NW 77th Avenue with direct frontage to the Palmetto Expressway/State Road 826 and 10 minutes to Miami International Airport. The grand opening will officially happen on Thursday, February 9.

Key Points: 
  • The building is fully gated and features ample parking spaces for clients in addition to a three-floor parking garage for staff.
  • "The investment in our new headquarters reflects our long-term commitment to service our community with a relationship-focused banking model," explained Calixto (Cali) García-Velez, President & CEO of Banesco USA.
  • Each floor of the headquarters features coffee break areas for clients and staff.
  • The facility has an open floor plan concept which increases collaboration and improves communication among team members.

Banesco USA Reaches $3 Billion Assets Milestone

Retrieved on: 
Monday, January 30, 2023

MIAMI, Jan. 30, 2023 /PRNewswire/ -- Banesco USA, an independent Florida state-chartered bank with six locations between South Florida and Puerto Rico, reaches a significant milestone with the announcement of achieving $3 billion in assets.

Key Points: 
  • Achieves 2022 growth of 40% in assets, 45% in loans and 52% in deposits
    MIAMI, Jan. 30, 2023 /PRNewswire/ -- Banesco USA, an independent Florida state-chartered bank with six locations between South Florida and Puerto Rico, reaches a significant milestone with the announcement of achieving $3 billion in assets.
  • "This milestone performance reflects the successful execution of our strategic growth plan," commented Calixto (Cali) García-Vélez, President & CEO of Banesco USA.
  • The total assets were $2.994 billion on December 31, 2022, an increase of $861 million or 40 percent from December 31, 2021.
  • Banesco USA, founded in 2006, is recognized by BauerFinancial with a 5-star Superior rating.

Banesco USA Achieves Rating Affirmation from Kroll Bond Rating Agency and Prestigious Bauer 5-Star Rating

Retrieved on: 
Thursday, December 22, 2022

MIAMI, Dec. 22, 2022 /PRNewswire/ -- Banesco USA announces it has received ratings affirmations from Kroll Bond Rating Agency (KBRA) as well as a Superior 5-Star rating by BauerFinancial, Inc.

Key Points: 
  • MIAMI, Dec. 22, 2022 /PRNewswire/ -- Banesco USA announces it has received ratings affirmations from Kroll Bond Rating Agency (KBRA) as well as a Superior 5-Star rating by BauerFinancial, Inc.
  • KBRA affirmed Banesco USA's deposit and senior unsecured debt investment grade ratings of BBB, the subordinated debt rating of BBB-, and the short-term deposit and debt ratings of K3.
  • The KBRA rating affirmations, paired with the BauerFinancial 5-Star Rating, highlights that the bank continues to excel in risk management while growing 40 percent year-over-year as of September 2022.
  • Banesco USA is proud to serve the commercial real estate sector, small and middle-market businesses, as well as professionals who work in the community.