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."
Starting April 21, 6 nicaraguan banks will include among its services online money transfers.
The six banks are part of the ACH Unired network, an entity authorized by the Central Bank of Nicaragua to operate in the country. Some banks offer no-cost transfers, while others charge transaction fees ranging between $5 and $20.
The banks are Lafise, BAC, ProCredit, Ficohsa, Banpro and BDF.
The Superintendency of Banks in Guatemala has authorized Rural Bank of Guatemala to acquire the shares of the bank founded with Nicaraguan capital, ProCredit.
After Banrural submits the information and documents requested by law, the Superintendency of Banks in Guatemala (SIB) will authorize the purchase of shares of Banco ProCredit.
The bank of Guatemalan origin has announced the completion of the purchase process of Procredit and the beginning of operations in December, focusing its services on the agricultural sector.
After completing the purchase process of shares of ProCredit Bank for $30 million, Banrural has announced that it will start operations with 15 agencies nationwide. Its main customer is the agricultural sector, but it also provides loans to SMEs in all areas.
Security of documents is being reinforced using a new type of paper, watermarks, and visible and invisible fibers.
The Central Bank of Nicaragua (BCN) and the Association of Private Banks have agreed to implement, as of March 15, a series of reforms for bank checks. The goal is to stop the falsification of instruments such as these used to transfer money.
The IDB has provided a $2 million credit line to ProCredit Bank SA for a program of credit and technical assistance for community water projects.
A press release from the Inter-American Development Bank (IDB) reads:
The Inter-American Development Bank (IDB) will help to expand and improve access to clean and affordable water to poor communities in El Salvador with a loan of U.S.
Procredit Bank will provide financing to agricultural and commercial sectors.
Consolidation in the market and granting loans to new segments such as the housing and agriculture sectors, are part of the objectives of the representatives of Procredit Bank, which has opened its twenty-fifth branch in the country.
Although they are interested in increasing the placement of funds, being able to do so will depend on demand and the compliance requirements being met by Nicaraguans who decide to opt for this financing.
The Central American Bank for Economic Integration (CABEI) and Banco ProCredit Honduras have signed an agreement to open a credit line to finance micro-companies and SMEs.
With the $5 million credit line ProCredit seeks to strengthen its portfolio of micro, small and medium-sized enterprises (MSMEs) in Honduras.
The general manager of the bank's Honduras division, Esther Gravenkötter, signed the loan agreement with CABEI executive vice-president, Alejandro Rodríguez Zamora. She told Terra.com that ProCredit supports small and medium sized companies whose goals are sustainability, financial growth, employment generation and a significant contribution to economic development.
With an investment of $1.5 million, the bank will have a total of 60 branches around the country to serve its 200 thousand customers.
Its CEO, Emmanuel Decamps, reported that the new agencies will generate more than 50 direct jobs.
Elsalvador.com reported Decamps’ statements: "We see 2009 as a very important year to continue growing with our customers and offering credit to Salvadoran micro, small and medium sized enterprises that may need financing."