The Superintendence of Banks granted permission for Banco Atlántida, an entity of Honduran origin, to begin operating throughout the country under local supervision and regulation.
The constitution of Banco Atlántida in Nicaragua was authorized on October 24, 2017, but it was not until October 2, 2019 that the permit to operate in the financial system was published in La Gaceta.
The Honduran Banco Atlántida has received authorization to operate in the Nicaraguan financial market.
As of November 15, the Honduran bank will have 180 days to comply with the requirements in the law for banks and financial institutions.
"...Through a resolution published in La Gaceta on November 15, the board of directors of the Siboif made official the authorization for the constitution of a banking corporation under the name: `Banco Atlántida de Nicaragua S.A. or simply Banco Atlántida Nicaragua or Banco Atlántida'."
It has been announced that Grupo Atlántida has completed the process of acquiring ProCredit and in the next few days it will change its name to Banco Atlántida El Salvador.
According to the chief of the Superintendency of the Financial System (SSF), Ricardo Perdomo, the purchase-sale operation was formalized on October 31.
"... The president of the board of directors of the new Banco Atlántida de El Salvador, Arturo Mera, confirmed that the operation required an initial investment of approximately $30 million, which will be expanded in the coming days to approximately $40- $ 45 million. 'The bank we are acquiring is Banco ProCredit, which from next week will change its name to Banco Atlántida El Salvador,' explained Mera."
Through a syndicated loan led by Banco Atlántida, finance of $70 million will be raised for the design and construction of the international airport of Palmerola.
From a statement issued by from Coalianza:
For a total of US $69.5 million, the company Palmerola Internacional Airport SA de CV (PIA) signed with Banco Atlántida, as agent and structurer, a Syndicated Credit Contract for the Design, Construction, Financing, Operation and Maintenance of the International Airport of Palmerola.
The government signed a trust agreement with Banco Atlantida to invest resources in the field of telecommunications and information technology.
With this trust an investment fund will be created for investments that will allow projects to be implemented in the area of telecommunications and information technologies.
"According to the contract, it is indicated that investments will be made in the area of telecommunications and their applications in information technology and communication, as well as facilitating access to the internet."
Using trusts the Government of Honduras will transfer into private hands the financing and operation of the system for passport issuance and property registration.
Authorization has been given to the execution of a trust agreement to run the studies required for the structuring, financing, development and operation of the Project entitled "Modernization, Improvement, Management and Operation of the Immigration System and Passport Issuance in Honduras."
The consortium COPRECA-CYES won the tender for the construction of the Solid Bulk Terminal at Puerto Cortes in Honduras, while the Consortium Multisur SA won operation of the Terminal.
From a press release issued by the Commission for the Promotion of Public-Private Partnership (COALIANZA):
In an act held at the hotel Honduras Maya, COPRECA-CYES a consortium made up of companies from Guatemala and Spain respectively, was the winner of the tender for the construction of the terminal, while the Consortium Multisur SA de CV from Mexico won operation of the bulk terminal at Puerto Cortés.
The tender for the construction of a bulk terminal in Puerto Cortes has been declared a failure, after the only two offers received were rejected.
"The decision of the Commission for the Promotion of Public-Private Partnerships (COALIANZA), the National Port Company (ENP by its initials in Spanish ) and Banco Atlantida, the entity in charge of the trust, came after neither participants fulfilled all the requirements", reported Laprensa.hn.
The National Port Authority of Honduras (ENP) has published the bidding rules to select a private operator for the bulk cargo terminal at Port Cortés.
From the press release by Coalianza:
The National Port Authority in its capacity as Settlor and Trustee, COALIANZA in its capacity as Settlor and Banco Atlántida in its capacity as Trustee, signed a Contract for Structuring, Management, Project Development and Promotion of the Bulk Terminal at Port Cortés. This Management Trust Agreement was approved in every one of its parts by the National Congress of the Republic by Decree 82-2012, which was published in the Official Gazette on August 31, 2012.
Foreign and local firms, with experience in the operation of dry bulk port terminals, are invited to submit expressions of interest for the project.
Project: MODERNIZATION PROJECT FOR SOLID BULK CARGO TERMINAL AT PUERTO CORTES.
Title: CONTRACT FOR OPERATION OF SOLID BULK TERMINAL
Deadline for receipt of documents: October 2, 2012
The National Port Authority in its capacity as Settlor and the Trustee COALIANZA, in its capacity as Settlor and Banco Atlántida in its capacity as Trustee, signed on 15 May of 2012 a Trust Agreement of Directors for a period of 30 years for structuring, project Development and Promotion of the bulk terminal of Puerto Cortes.
The International Finance Corporation (IFC) has signed an agreement with the bank to develop its portfolio of products for small and micro enterprises.
According to a press release from the IFC, the initiative will help create jobs and promote economic growth in Honduras.
It is hoped that the joint project between Atlántida Bank, the IFC and supported by the Netherlands, will make more than $30 million in funds available to Honduran micro and small enterprises (MSEs) over the next five years.
The entity has received a $20 million IDB loan to expand its loan portfolio to operations with environmental sustainability.
The Inter-American Development Bank today announced the approval of a "green" facility with $30 million going to Banco Atlantida in Honduras to support lending to environmentally sustainable projects. The facility for medium-term financing consists of load A, a $20 million IDB loan, and loan B, to be syndicated by the IDB, with a target figure of $10 million.
Laticom Int is planning to develop several projects in the Honduran Telecommunications Company.
The U.S. company and technology services provider, has signed a trust for a total of $10 million to implement various projects in the Honduran Telecommunications Company (Hondutel).
The trust will help ensure the implementation of the project and improve data transport, Internet and other telecommunications services.
IFC will finance part of $ 44 million in road repairs in Tegucigalpa and Comayaguela.
The money will be channeled through three local banks: Ficohsa, Atlantida and Banco de Occidente, covering 36% of the $ 44 million credit loan the municipalities have with these banks.
This is the first sub-national credit the International Finance Corporation (IFC) does in Honduras and serves as a mechanism for credit sharing, allowing local banks to overcome limits of funds they can lend, providing better conditions for long-term investments.
The commerce program of the IFC supports Atlántida Bank in the expansion of its access to a world trade network.
The International Finance Corporation (IFC), a member of the World Bank Group, announced today that Atlántida Bank of Honduras has joined the Global Program for trade financing of the IFC, which will help the bank to access a world trade network and strengthen its support to SMEs that are dedicated to the import or export of goods in the country.