Guatemala: Workers Bank acquires the Bank of the Republic

The Workers Bank (Bantrab) bought 99.97% of shares in the Bank of the Republic for $21 million.

Wednesday, October 22, 2008

The purchase has to be reviewed by the Monetary Board which can deny or postpone the acquisition and merger.

With this purchase, the Bantrab will adds assets worth $125.24 million, deposits at $95 million and a credit portfolio of $86 million. As of September 30, the Bantrab had assets worth $451 million and $334 in deposits.

More on this topic

Canal Bank and Lafise After Banco Universal

October 2015

Following the suspension of operations in June, the Banco Universal de Panama entered into an organizational process that culminated with the sale of assets and liabilities of the company.

The invitation to participate in the expressions of interest was issued to all banking institutions with a general license in the Panamanian banking system. The finalists in this auction, as reported, are Canal Bank and Lafise.

Mergers and Acquisitions in Costa Rica

April 2013

As of April 5 mergers and acquisitions will have to be approved at the Antitrust Commission, part of the Ministry of Economy, Industry and Trade, before they can take place.

From that date, the Antitrust Commission, at the Ministry of Economy, Industry and Commerce (MEIC), will have the power to approve or deny deals, if it is concluded that they would result in undue concentration of business.

Guatemalan Bantrab Acquires Credit Line for $27 million

September 2011

The Banco de los Trabajadores (Workers Bank) has signed for a credit line worth $27.5 million with the Central American Economic Integration Bank

The funds will be earmarked for financing small and medium enterprises and housing loans.

The loan was signed by Ronald Garcia, general director of Grupo Financiero Bantrab, and Florentino Fernandez, country manager of BCIE.

Colombian Banks to Arrive in Guatemala with the FTA

March 2009

The financial group Bancolombia would come to Guatemala with the signing of the Free Trade Agreement between both countries.

Prensa Libre reported that the Colombian ambassador in Guatemala, Eduardo Lopez Sabogal indicated that the Bancolombia Group has been negotiating with domestic private banks, looking for a strategic alliance, similar to the one developed in El Salvador, with the purchase of the Banco Agrícola.

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Cafissa Capital

Organization that operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama.
Phone: (506) 2290 8406

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