Oct 3, 2024
Miami is often described as the northernmost city in Latin America, or sometimes as Latin America’s business capital. On the latest episode of the ABA Banking Journal Podcast — sponsored by Alkami — Banesco USA President and CEO Cali Garcia-Velez discusses how he and his team are growing a Latin American banking franchise in South Florida and Puerto Rico. Among other topics, Garcia-Velez discusses:
- The origins of Banesco USA, which is an independent U.S.-chartered bank that is part of a franchise of other Banesco banks across the Americas.
- Banesco USA’s growth plans in the turbocharged South Florida market, including its pivot into C&I lending and residential mortgages to balance its commercial real estate portfolio.
- How Banesco USA’s loan growth was fueled by a capital award from the Treasury Department’s Emergency Capital Investment Program for minority depository institutions.
- His own journey as a banker, which included turnaround assignments at troubled banks in Puerto Rico.