Citibank starts operations in Honduras
Citibank Honduras, which belongs to the American Citigroup, started to operate today and is the result of the merger of two other banking institutions with Central American capital.
Monday, August 18, 2008
"Cuscatlan bank and Banco Uno bank have successfully completed their merger, and from now on will be called Citibank Honduras," indicated a paid ad published today in the press.
HSBC Bank Panama has presented to regulatory authorities a solicitude for completion of a merger with Panama's Primer Banco del Istmo (Banismo).
The process of consolidating banking services in Central America is linked to the entrance of international banks into the region and the potential for attracting new customers to use banking services.
The assets of Central America's banks are growing by more than US$9 billion a year and the presence of foreign capital is growing in the sector.
Citigroup cemented the legal fusion of Banco Uno and Cuscatlan Bank in Panama today. These brands will now be removed from the market.
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