Banco Azteca Begins Operations in El Salvador
The Mexican bank was authorized by the superintendence of the financial system, after fulfilling all the requirements.
Thursday, July 30, 2009
According to documents forwarded to the superintendence, the banking entity plans to open 23 branches in El Salvador.
After two years of proceedings before financial authorities, the bank will start operations next July.
The process is in the final stage. Once the required technical aspects have been approved, the permits to operate would be granted.
The vice president of the Administrative Council, Luis Niño, said that they hope to have government approval by the end of the year to operate with a banking license in El Salvador.
The bank plans to expand its presence to 39 branches, from the 29 offices it currently operates in El Salvador.
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