Guatemala people's banks seek cross-border business

Guatemala's "people's banks", that lend to the likes of small shopkeepers, aim to take their business model to the rest of Central America.

Monday, May 26, 2008

G&T Continental and Banco Industrial (BI) run mini-branches where low-income customers can cash cheques, open savings accounts and pay public-service bills.
Boosted by their success, each of the banks is aiming to reach 2,000 branches by the end of the year, some of them in Honduras, Nicaragua and El Salvador.

More on this topic

65% of Guatemalan Deposits in Just Three Banks

April 2010

From all the resources deposited in the Guatemalan banking system, 65.3% is concentrated in banks Industrial, G&T Continental and Banrural.

The figure corresponds to February 2010. According to the Banking Superintendence, in the same month of 2009 these banks had 64% of the deposits, out of a total 18 banking institutions in Guatemala.

G&T Continental Expands in El Salvador

December 2009

By opening its 11th branch, Grupo Financiero G&T Continental now features 600 locations in Central America.

The new Salvadoran branch is located at Shopping Mall Aventura Plaza, and will offer services in financing, investment, treasury, commerce, cash management and corporate and individual advising.

G&T Continental Expands to Costa Rica and Panama

March 2009

In short, Financia in Costa Rica and Banco Financia (BMF) in Panama will begin to use the Guatemalan financial company’s brand.

Both companies were already part of the G&T Continental Financial Group which is now completing the formalities to change the name with the respective supervisory authorities in Costa Rica and Panama.

Multi-million-dollar loan for Honduran company

April 2008

The Banco Financiera Comercial Hondureña S.A. (Ficohsa) and Guatemala's Banco GT Continental, together with several local banks, including Atlántida, BAC-Bamer, GTC Bank, Banco Aliado and Tower Bank, have put together a syndicated loan of 77 million dollars for Corporación Dinant.

The funds will be used for investment in plant and agro-industry. Surplus funds will be used for publicity and marketing.

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