With three agencies in San Salvador, Banco Industrial will begin operations.
Alicia Maria Mayorga, president of the institution in El Salvador said they already have planned an expansion for next year with the opening of new agencies and more products and services.
"Juan Miguel Torrebiarte, president of the BI corporation, said that the arrival in El Salvador is a major event for the financial group, because through this new bank they will consolidate their presence in the Central American Northern Triangle (Guatemala, El Salvador and Honduras ) as well as allowing them to offer their present and potential customers greater regional coverage and services to facilitate trade", reported Elperiodico.com.gt
The main shareholder of the new bank, which will open operations on 13 July, is the Panamanian holding company Bicapital Corporation.
As outlined in an article in Elperiodico.com.gt, Banco Industrial El Salvador will absorb the existing operations of the representative office of Banco Industrial Guatemala, which is already operating business loan services in El Salvador.
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).
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