Key Insights
Asset Growth: The Honduran banking sector reached total assets of USD 42.6 billion, with a remarkable 15.7% year-over-year growth, underscoring robust financial expansion.
Loan Portfolio Surge: Credit demand drove a 15.9% increase in the loan portfolio, totaling USD 26.4 billion, the highest growth rate among key metrics.
Market Concentration Dominance: The top five banks—FICOHSA, Banco Atlántida, BAC Credomatic, Banco de Occidente, and Banpais—control 79.8% of the sector’s total assets, highlighting a concentrated market structure.
Profitability Led by Banco de Occidente: The sector’s net income reached USD 319 million, with Banco de Occidente leading the pack at USD 86.8 million.
Steady Deposit Growth: Deposits grew by 9.6% year-over-year, reaching USD 25.3 billion, reflecting depositor confidence in the stability of the banking system.
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Market Overview
As of September 2024, the banking sector in Honduras demonstrated robust growth across key financial metrics, reflecting a positive trend in economic activity and financial stability. The total assets of the sector reached USD 42,585 million, a significant 15.7% nominal increase compared to the same period in the previous year. This growth underscores the sector’s ability to expand its financial base, driven by increased demand for credit and a growing deposit base. The loan portfolio totaled USD 26,377 million, growing by 15.9%, the highest annual variation among key indicators. This reflects strong credit demand, likely supported by economic recovery and investment opportunities.
Deposits, a critical source of funding for the banking sector, amounted to USD 25,298 million, representing a 9.6% year-over-year growth. Although this growth is slightly lower than that of assets and loans, it indicates steady confidence among depositors in the banking system. The sector's net equity grew to USD 2,909 million, marking a 12.5% annual increase, which highlights improved capital strength and better positioning to absorb risks. Net income for the sector reached USD 319 million, with an 11.3% year-over-year growth, reflecting enhanced profitability amid a stable financial environment.
Market share analysis reveals that the sector is concentrated among a few key players. FICOHSA leads in total assets with an 18.8% share, followed closely by Banco Atlántida at 18.0%. BAC Credomatic holds 15.7%, Banco de Occidente 15.2%, and Banpais 12.1%. Collectively, these five institutions account for 79.8% of the sector’s total assets, indicating a high degree of market concentration. In terms of loan portfolio market share, Banco Atlántida leads with 20.0%, followed by FICOHSA at 18.1%. BAC Credomatic captures 15.5%, while Banpais and Banco de Occidente each hold 13.1%, showcasing a similar distribution of credit market dominance among these institutions.
Profitability metrics further illustrate the dominance of key players. Banco de Occidente achieved the highest net income, totaling USD 86.8 million, followed by BAC Credomatic with USD 58.1 million. Banco Atlántida generated USD 47.2 million, while FICOHSA and Banpais earned USD 40.9 million and USD 40.1 million, respectively. The aggregated net income for the sector stands at USD 318.8 million, with these top institutions contributing the majority.
The consistent growth across all financial indicators, coupled with strong performances by leading banks, highlights the resilience and stability of the Honduran banking sector. Despite high market concentration, the competitive dynamics among the leading players and the sector’s overall expansion suggest an environment conducive to further growth and innovation.