Banco Azteca Expands in El Salvador

The bank plans to open ten new branches in 2011, adding up to 52 in the country.

Friday, February 4, 2011

Luis Niño, President of the Board of Directors of Banco Azteca El Salvador, said they want to increase the local market share by doubling its loan portfolio.

He added to Prensagrafica.com: "We put millions in loans. The majority are small amounts, because we provide financial support to low-income people. Our average credit is between $ 450 and $ 500."

More on this topic

G&T Continental Expands in El Salvador

October 2010

The Guatemalan financial group plans to open 27 new branches next year in El Salvador.

Flavio Montenegro, General Manager, told Prensa Libre the group already has 23 branches, with the new openings it will consolidate presence in Salvadoran market.

"First, we will consolidate in El Salvador and then will start working in the other markets (Central America)," added the executive.

Banco Azteca plans new Branches in El Salvador

November 2009

The bank plans to expand its presence to 39 branches, from the 29 offices it currently operates in El Salvador.

The announcement was made by Luis Niño de Rivera, president of the board, who remarked that the bank has so far created 445 jobs and will employ 100 more people next year.

Azteca Bank Next to Start Operations in El Salvador

May 2009

The process is in the final stage. Once the required technical aspects have been approved, the permits to operate would be granted.

Luis Armando Montenegro, Superintendent of the Financial System (SSF), reported that the Board of Directors of the Superintendent will receive the case no later than June 10 for its approval.

New bank to begin operations in El Salvador

September 2008

The Industrial Bank of El Salvador is completing the procedures at the Financial System Superintendence to formally become a bank.

According to the Superintendence, shareholders will hold 1% or more of the social capital of said company which is being created and includes: Banco Industrial S.A. (from Guatemala), Construagro S.A. (from El Salvador), y José Luis Zablah Touché (from El Salvador).

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