Miami Banks Show Positive Momentum
By: Leon Castles
on Friday, May 11, 2012
Although, the economical growth of Miami is not that great in the year 2012, but the banks of Miami and South Florida have come up with positive announcement saying that they have seen better momentum in 2012. Many of the banks in Miami and South Florida have claimed that they have had better first quarter results and that is helping them to help the economy of the city. The banks have said that they had good profits and they are expanding their loan portfolio as well which is the most important thing that they need to do if they want to improve their financial results in the second quarter of 2012.
Currently, there are 25 top banks in Miami and 17 of them have had a positive first quarter financial results. Although there are some banks that did not enjoy the same kind of financial experience but Miami banks have proved that they can come back from poor economy results. Top banks like Ocean Bank, Regent Bank and TotalBank have said that they have seen improvement in their financial results for this year. The banks feel that the better results have only been possible because the economy of South Florida is improving. Hence, most of them believe that lower unemployment levels and better purchase capacity has allowed them to improve their reports.