Banrural Expands in the Region

The Rural Development Bank of Guatemala initiated an expansion process through Central America.

Tuesday, January 25, 2011


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During its annual meeting it announced that they have started the admission process in the corresponding bodies of two Central American countries. Due to procedural reasons, they did not specify which.

Consultations by Prensalibre.com, with the Superintendence of Banks of Guatemala, indicated the Honduran regulator has requested information from the bank.

Fernando Peña, CEO of the institution, added that "... the establishment will be like a new bank, and already there are talks with small business and cooperatives, among others, for the establishment of the financial institution."

More on this topic

Guatemala’s Banrural to Operate in Honduras

January 2012

The Rural Development Bank plans to open 21 branches in Honduras, investing $40 million.

Guatemalan banks are expanding into Central America. This time it is the Banrural, which has plans to open 21 branches in Honduras after obtaining permission from the authorities.

"The two largest banks in Guatemala have crossed the border and are competing for the Central American financial market, setting up operations in El Salvador, Honduras, Costa Rica and Panama; now they are being joined by the Rural Development Bank (Banrural) which has decided to enter Honduras and in the long term is also interested in expanding into El Salvador", reports ElPeriodico.com.

Costa Rican banks plan aggressive expansion this year

June 2008

Driven by fierce competition, public and private banks are carrying out aggressive expansion plans this year.

Seven banks and the Mutual Group have announced that they will open at least 84 branch offices or agencies.
The most ambitious plans are those of the Banco de Costa Rica and Banco Popular, each of which is planning to end the year with 20 new branches.

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.

Multibank Targets Regional Banking Market

March 2012

The Panamanian bank is continuing its expansion plans in Central and South America.

Multibank, an entity founded on Panamanian capital, intends to consolidate and expand its share of the banking sector in Colombia and Central America, where it has already acquired full control of Macrofinanciera SA (Colombia) and the incorporation of the company Multi Resuelve (Costa Rica), focused on financing the purchase of cars.

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