HSBC starts the process for operating in Guatemala
HSBC has started the approval process for operating in Guatemala. According to information from the Central American Daily, the Monetary Committee that oversees Guatemala's financial sector, will make its decision on the bank's application within two months.
Friday, June 6, 2008
Publication in the Official Daily is part of the approval process required by the Office of the Superintendent of Banks. The bank has already been given unofficial notice that it will be able to operate in the country.
HSBC will modify its request to open in the country; instead of one branch, it is looking to set up as a local bank.
The bank will continue its banking and insurance business in Panama as part of its strategy in Latin America to focus on high potential markets.
Banco Industrial has announced that it is prepared to start operations in Panama's financial center in the first quarter of 2015.
The Industrial Bank of El Salvador is completing the procedures at the Financial System Superintendence to formally become a bank.
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