First Commercial Bank Closes its Salvadoran Operations

In November the bank will close down its operations due to lack of clients.

Wednesday, September 1, 2010


The closure was announced on 25 August by El Salvador's Financial System Regulator (SSF in Spanish).

Víctor Ramírez, SSF head, indicated that the decision to close was made by the bank itself, adding that, "it is no longer in their interests to stay open since the original idea was to provide services to manufacturing companies but as this sector has suffered there is less incentive to stay".

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