The German group DEG has become a shareholder of Multibank investing $30 million, equivalent to a 7% stake in the company.
Prensa.com reports: "The German company will incorporate a representative to the board of Multi Financial Group (MLG, a holding company belonging to Multibank), which finds in this partner support for its expansion strategy."
The Panamanian bank is continuing its expansion plans in Central and South America.
Multibank, an entity founded on Panamanian capital, intends to consolidate and expand its share of the banking sector in Colombia and Central America, where it has already acquired full control of Macrofinanciera SA (Colombia) and the incorporation of the company Multi Resuelve (Costa Rica), focused on financing the purchase of cars.
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