HSBC Enters Guatemala

The financial group will open a commercial office in the country in October.

Wednesday, September 23, 2009

Paul Stickland, HSBC's representative in Guatemala, explained that the new office will service Guatemalan and multinational corporations.

Regarding the possibility of acquiring a local bank, Stickland said: "It is a long term possibility, but nor our immediate objective".

More on this topic

HSBC: Office in Guatemala

July 2009

The Guatemalan Banking Superintendence authorized the bank to operate as a representative office of HSBC BANK (Panamá) S.A.

Paul Stickland, legal representative of HSBC's Guatemalan office, informed that they will support Guatemalan companies in obtaining access to international markets.

HSBC changes strategy for opening in Guatemala

November 2008

HSBC will modify its request to open in the country; instead of one branch, it is looking to set up as a local bank.

HSBC (the Hong Kong and Shanghai Banking Corporation) has still not landed in the Guatemalan financial market, the only country in Central America where it is missing, and to date this continues to be uncertain as the request process has been changed.

New bank to begin operations in El Salvador

September 2008

The Industrial Bank of El Salvador is completing the procedures at the Financial System Superintendence to formally become a bank.

According to the Superintendence, shareholders will hold 1% or more of the social capital of said company which is being created and includes: Banco Industrial S.A. (from Guatemala), Construagro S.A. (from El Salvador), y José Luis Zablah Touché (from El Salvador).

HSBC sees Guatemala, Mexico growth

April 2008

HSBC aims to add Guatemala to its Central America-wide operations from 2009 and sees strong long-term growth in Mexico, the bank's regional president said on Thursday.

Paul Thurston told the Reuters Latin America Investment Summit that HSBC has applied for a banking license in Guatemala and hopes to start operations there next year.

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