Banks For Sale in Nicaragua

An announcement has been made that the ProCredit bank is in negotiations with the Banco Rural de Guatemala, while Aval, Promérica Group and the Banco Popular de España are fighting for Citi Group.

Wednesday, February 18, 2015

Banco ProCredit is currently negotiating with Banco Rural de Guatemala, while Citi Group expects to release information in the coming weeks regarding who will keep its assets in Nicaragua.

The Superintendent of Banks, Victor Urcuyos told Laprensa.com.ni that "... Procredit will be in negotiations with the Banco Rural de Guatemala over the sale of this institution, but so far it is not known when the talks will be completed. There is still nothing concrete, we are in negotiations. "

In the case of Citi Group he added "... In 15 days we will know who will keep the bank, the purchase of which is being fought over by Aval in partnership with a Honduran bank, Banco Popular de España and Grupo Promérica. I do not know who the winner will be, I have understood that this is going to be announced in the coming weeks. "

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More on this topic

El Salvador: Banco ProCredit with New Owner

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It has been announced that Grupo Atlántida has completed the process of acquiring ProCredit and in the next few days it will change its name to Banco Atlántida El Salvador.

According to the chief of the Superintendency of the Financial System (SSF), Ricardo Perdomo, the purchase-sale operation was formalized on October 31.

Ficohsa Acquires Citi in Nicaragua

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The transaction involves the acquisition of all of Citi's operations in the country, including commercial loans, personal loans, deposits and credit cards.

From a statement issued by Ficohsa Group:

The company has been consolidated among the 10 largest financial groups in Central America

Spanish Bank After Citi's Regional Operations

March 2015

Aside from the Colombian Grupo Aval, the Spanish company Banco Popular may also be in negotiations to acquire Citi's entire consumer banking operation in Central America.

The sixth largest bank in Spain, which at the moment has no presence in Central America, could be interested in acquiring the consumer banking operation that Citi has put up for sale in Costa Rica, El Salvador, Guatemala, Nicaragua and Panama.

Banrural Buys Procredit in Nicaragua

February 2015

The Superintendency of Banks in Guatemala has authorized Rural Bank of Guatemala to acquire the shares of the bank founded with Nicaraguan capital, ProCredit.

After Banrural submits the information and documents requested by law, the Superintendency of Banks in Guatemala (SIB) will authorize the purchase of shares of Banco ProCredit.

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