Banco Industrial to Open in El Salvador in October

The Guatemalan bank will invest $20 million in the opening of five agencies in El Salvador.

Thursday, September 2, 2010


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Luis Lara Groject, Banco Industrial's manager, commented that the opening had been planned for May but the development of information systems took longer than expected.

According to elperiodico.com.gt the new Salvadoran branches will have $20 million worth of capital initially. Lara added that they will offer the same financial products available in Guatemala and that the bank also plans to expand into other countries. It acquired a Honduran bank in 2008 for this reason.

More on this topic

Guatemala's Pacific Oil Targets Central America

October 2012

The fuel company has announced a regional expansion process in El Salvador, Honduras and Panama.

Juan Salazar, manager of the company, explained that in 2013 they plan to open 75 stations in these countries, with a total investment of $48 million and an average cost of $500,000 per facility.

Grupo Monge Invests $45 Million in Regional Expansion

March 2010

The home appliances chain will open new stores in Guatemala, Honduras and Nicaragua.

Company president Gastón Monge commented they plan to open 40 new stores in Guatemala using the “Gallo más Gallo” brand.

“In Honduras, Grupo M will invest $15 million in 20 new stores”, reported Nacion.com. “5 stores are planned for Nicaragua, which will cost between $2.5 and $5 million”.

Costa Rican Financial Company to go Regional

July 2009

In late 2010 Financiera Desyfin will begin its expansion plan, opening branches in new countries every three months.

Focused in SMEs, the company has factoring as one of its services. Its first branch outside Costa Rica will be either in El Salvador or Guatemala, and from there they will expand to the rest of the Central American countries.

G&T Continental Expands to Costa Rica and Panama

March 2009

In short, Financia in Costa Rica and Banco Financia (BMF) in Panama will begin to use the Guatemalan financial company’s brand.

Both companies were already part of the G&T Continental Financial Group which is now completing the formalities to change the name with the respective supervisory authorities in Costa Rica and Panama.

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