Venezuela's Banesco to set up regional headquarters in Panama
Venezuelan bank Banesco is setting up a regional headquarters in Panama next year for an expansion project in Central America and the Caribbean.
Thursday, May 22, 2008
Costa Rica, Guatemala and the Dominican Republic are the first countries that Banesco executives have set their sights on. Ricardo Ayala, chairman of the bank's board, emphasized that Banesco would finance the expansion from its own resources.
The bank is planning to start operations in Costa Rica and the Dominican Republic in the first quarter of 2009.
Banesco was authorized by the Panamanian Banking Superintendence to open a branch in Dominican Republic.
Increased controls on lending to sectors such as construction and a reduction in branch openings are some of the measures.
Thirty-eight months after the first earth works were made, 13.7 kilometers of the first Metro line of Panama City has been opened.
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