Banex begins operations in Nicaragua

Previously known as Findesa, Banex began operations with 30 branches in the country.

Friday, October 17, 2008

The Nicaraguan Development Finance Corporation, Findesa, which became a commercial bank called the Success Bank, Banex, began operations with 30 branches nationwide.
Banex will focus its operations towards small and medium sized producers.

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Banex to Resume Operations in Nicaragua as Microfinance Bank

July 2010

The move will mean the closure of 10 branches and the loss of 50% of its staff.

Benjamín Vides, Chairman of the bank’s board of directors, indicated that the return of customers’ deposits forms part of this process since, according to Guatemalan legislation, a lending institution cannot hold deposits.

Nicaragua: Banex Bank Closes Offices

June 2010

The bank closed 5 branches, while it awaits a potential $32 million recapitalization.

The banking superintendence (Siboif), gave “Banco del Exito” (Banex), until June 30 to confirm this second capitalization. Meanwhile, the bank closed branches in Granada, Ocotal, Bonanza, Rosita and Siuna.

New Panamanian Bank

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The Panamanian Superintendent of Banks has a pending general license application for the opening of a new bank.

The request was submitted by a group funded with Panamanian capital and, as published in La Prensa which had access to view preliminary reports, the new finance company could be able to begin operations at the end of 2009.

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.

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