Banesco USA reported net income of $24 million for the second quarter of 2026, a 59% increase compared with the same period last year, driven by growth in small-business lending in the United States and the launch of BanescoSelect in Puerto Rico. The bank, part of Banesco International and Abanca, said total assets reached $6 billion, up 15% year-over-year, while deposits rose 21% and the loan portfolio grew 8% in the twelve months ending June 30, 2026.
Calixto (Cali) García-Vélez, president and chief executive officer of Banesco USA, said the results reflect the strength of the bank's relationship-based business model and its ability to spot opportunities in high-growth markets. A key factor was investment from the US Treasury Department's Emergency Capital Investment Program (ECIP): during the quarter the bank issued $344 million in loans under that program, and since receiving the funds in June 2022 it has disbursed $3 billion in eligible loans.
Expansion of Small Business Administration (SBA) lending also helped attract new clients across US markets and diversify revenue sources. García-Vélez said the small-business strategy is exceeding expectations, calling small businesses the backbone of the US economy.