Citibank starts operations in HondurasMonday, August 18, 2008 Citibank Honduras, which belongs to the American Citigroup, started to operate today and is the result of the merger of two other banking institutions with Central American capital. "Cuscatlan bank and Banco Uno bank have successfully completed their merger, and from now on will be called Citibank Honduras," indicated a paid ad published today in the press. Citibank begins operations in Costa RicaMonday, November 3, 2008 Starting today Costa Rica becomes the fifth country in CA where the Cuscatlan and Banco Uno Banks started to operate under the Citibank name. By joining up the local operations of Cuscatlan and Uno, Citi will have an equity of more than $100 million and totals assets greater than $750 million. Citibank starts operations in NicaraguaMonday, September 22, 2008 Today Citibank will officially begin to operate under that name in Nicaragua, after having acquired the Uno Financial Group. The bank has completed the integration process in Nicaragua, after having bought the Salvadoran bank, Cuscatlan, almost a year ago for approximately 1.5 billion dollars. Citibank starts operations in PanamaMonday, October 13, 2008 Citigroup cemented the legal fusion of Banco Uno and Cuscatlan Bank in Panama today. These brands will now be removed from the market. The result of the union of these operations is a new brand called Banco Citibank (Panama) S.A. with an equity of 250 million dollars, and assets totaling more than 840 million dollars and a network of 22 branches and close to 200 thousand clients. El Salvador Citibank operations approved in El SalvadorFriday, September 5, 2008 Citibank got the approval of the Salvadoran authorities to integrate the operations of Banco Uno Bank and Cuscatlan Bank. The Superintendence of the Financial System (SSF) reported yesterday that the Board granted its approval last Wednesday after receiving the corresponding reports. Banco G & T Acquires Citi Guatemala PortfolioFriday, December 16, 2011 G & T Continental has acquired, at $64 million, Citibank de Guatemala’s housing portfolio. Flavio Montenegro, general manager of G & T Continental, said the payment was in cash and Citibank de Guatemala has already handed over the records of the respective accounts. El Salvador: Merger of Cuscatlan Bank and Banco Uno Bank to be endorsedThursday, August 28, 2008 The Superintendence of the Financial System will announce next week whether or not both entities can begin to operate as Citibank, after their merger. Citigroup Inc. completed the purchase of the Corporación Unión de Bancos Cuscatlán Internacional (UBCI), owner of Cuscatlan Bank, in May 2007, and in March of the same year it acquired the Financiero Uno Group (GFU). Citibank, the new brandWednesday, September 10, 2008 El Salvador is the second country to join the Citigroup network in Central America; the plan should be completed in the last quarter of this year and includes Panama. The full Citibank network started to function fully yesterday and is made up branches that belonged to Cuscatlan Bank and Bank Uno Citi to opens its doors in Guatemala on MondayWednesday, November 5, 2008 Citi will open its doors to the public as group next Monday. The change in name is due to the consolidation of the bank after the merger of Banco Uno and Cuscatlan Banks. The announcement of the new image was release in a publication in the Prensa daily explaining that for three days (November 7 to 9) branches nationwide will be closed in order to finalize details that will benefit the public. Citibank Costa Rica Eliminates Stock Brokerage ServicesThursday, August 27, 2009 From August 31 onwards the entity will no longer provide stock brokerage services. “The stock broker was named 'Citi Valores Accival'. This brokerage began operations in 1988 under the name 'BFA Valores'. On March 6, 2000, it changed its name to 'Valores Cuscatlán Puesto de Bolsa', and in 2008, Citivalores and Cuscatán merged, becoming 'Citi Valores Accival'”, reports Nacion.com. Citibank Panama ratings loweredFriday, January 9, 2009 The Equilibrium Agency, a subsidiary of Moody's, lowered the ratings from AA+ to AA and modified the forecast from "stable" to "negative." Prensa.com reports that "this downgrade is in response to "the lower financial strength of its shareholder, which is affecting the support grade assigned in the rating. This has occurred within the context of greater credit risk as a result of the absorption of Bank One in October 2008," the report read." El Salvador: Sale of Citi to Terra Group ConfirmedThursday, March 10, 2016 The sale of Citibank operations in El Salvador to Honduras' Grupo Terra has been formalized, with the insurer SISA included in the transaction. From a statement issued by the Stock Exchange of El Salvador: Guatemala: Citi Launches Virtual Forex PlatformWednesday, September 23, 2009 Through CitiFx Pulse, Citi's corporate clients will be able to engage in real-time currency transactions via Internet. The tools includes analysis tools, such as charts, reports and documents written by Citi's analysts, in order to assist the investor. Citibank with Regional FocusMonday, March 9, 2009 The region which produces 13% of the bank's Latin American utilities is seen by the bank as an economic block. The Guatemalan newspaper Siglo XXI interviewed the CEO of Citi Guatemala, Juan Miró, who reported that they are currently working on optimizing the IT platform in order to better serve the Central American market. Panama: Is the glass half empty or half full?Monday, July 28, 2008 Although the Citibank analyists are very optimistic about the future of the country, they worry about the rising inflation that appears to be escalating. I take issue with several assumption they make. The two big mega projects are what make things so rosy in their eyes. Of course they are counting their chickens before the hatch when it comes to the refinery and they are buying into the continued growth of the worlds economy driving the canal expansion as the other assumption. |
|