HSBC sees Guatemala, Mexico growth

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.

Friday, April 4, 2008

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.
HSBC, one of the world's top banks, in 2006 paid $1.77 billion for Panama's Grupo Banistmo, the biggest banking group in Central America, but was left without a foothold in Guatemala.

More on this topic

General Electric Opens New Site in Panama

December 2012

With an investment of close to a million dollars the multinational will attend to operations in Central America and the Caribbean from its new offices in Panama.

Located in Punta Pacifica the new site also has a training and education center, GE Healthcare, for the use of its health related product.

HSBC Nicaragua Offers Loans to Exporters

April 2010

Recently inaugurated, HSBC’s representation office will offer loans for importers and exporters.

Emilson Alonso, president of HSBC for Latin America and the Caribbean, explained they will also serve investors interested in the region.

He explained that “thanks to the bank’s presence in 86 countries, they will be able to assist exporters and importers, in addition to promoting investment in Nicaragua, as projects in the country could be financed via the bank’s international clients”.

HSBC Enters Guatemala

September 2009

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

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".

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.

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