The process is in the final stage. Once the required technical aspects have been approved, the permits to operate would be granted.
Luis Armando Montenegro, Superintendent of the Financial System (SSF), reported that the Board of Directors of the Superintendent will receive the case no later than June 10 for its approval.
German Rivas reported statements by the Superintendent which are published by Laprensagrafica.com: "To date, the required capital complement is missing. Due to a legal adjustment, it went from $14 to $16 million, of which $14.2 million have been deposited; a deadline of June 30 was given for the complement. The bank would begin operations with 23 agencies and nationwide coverage. It would generate more competition and thus result in greater credit access."
During the first quarter, Credomatic recorded a decline of 3% in credit card use with respect to the same period in 2008.
Credomatic is the strongest participant in the Nicaraguan credit card market with 150 thousand customers, and it processes 70% of the total transactions in the country.
A Prensa.com.ni article reported: "Details by the Superintendent of Banks (SIB) suggested that up to and including December 2008, the country had 384,405 cardholders, while the number of credit cards was 539,331, which indicates that each debtor has more than one credit card."
Technisys is the omnichannel digital banking company. It offers technology solutions that allow banks to stand out through their customer experience, increase their sales and dramatically reduce their time-to-market when it comes to launching new financial services. Technisys culture lies on its innovation, its human capital talent and its vision of the future. The digital age represents an unprecedented growth opportunity for the financial service providers, and Technisys helps its customers to differentiate and capitalize it.
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