From May Banco Industrial will be included in the list of entities that make up the Panamanian banking system.
The Superintendency of Banks in Panama granted to Banco Industrial de Guatemala a general license to operate in the banking system, starting with an initial capital of $20 million and "... 23 employees", reports Prensalibre.com.
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 IndustrialGuatemala, which is already operating business loan services in El Salvador.
Business loans of more than $ 640.000 pay between 8% and 12.5%.
Business loans of less than $ 640,000 pay considerably more, between 11.3% and 34.4%.
The information comes from the monthly report generated by the Bank Superintendence of Guatemala, which for the first time includes interest rate information filtered by credit portfolio, economic activity, type of credit and rank.
In order to support liquidity, the government is analyzing whether to accept a $500 million line of credit from the IDB.
The Superintendent of Guatemalan Banks, Edgar Barquín, said that the purpose of this instrument would be to compensate for the likely loss of foreign credit lines.
According to an article in prensalibre.com, "credit lines granted by correspondent banks to local ones in the past 15 months have fallen by $130 million,” and "there are now nearly $1.6 billion in lines of credit."
The ATM business has a lot of room to grow in Guatemala where the banking market is still in its beginning stages.
An article published in La Prensa Libre in Guatemala analyzed the market for ATMs in the country. At present, three companies compete for the market: T&T, with 1,100 ATMs, Banco Industrial with 546 and BAC-Credomatic with 100.
Credit to the private sector grew by 11.2% in January, a lower growth than for the same period last year when the increase was 26.4%.
Reporter Jessica Gramajo wrote in the SigloXXI website: "Data from the Bank of Guatemala (Banguat) reported that in January of this year the banking system maintained a loan portfolio of $10.901 million (Q 87.240,8 million).
Users continue to prefer traditional operations; bankers maintain that in a short time frame, this tendency will revert itself.
Sigloxxi.com publishes an article in its website: "Among the hundred of the most visited places on the internet, and in just half of the count, only three banks are placed: G&T Continental (46), Industrial (51) and Banrural (60).
For the fourth consecutive year, the Periodico de Guatemala (the Newspaper of Guatemala) has held its regular investment forum where five of the most important businessmen analyze the business panorama.
The article published in elPeriodico.com says that "given the global economic situation, elPeriodico convened an investment forum with five of the most prominent businessmen and women.
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