Alba Nicaragua Enters Banking Business

The Superintendency of Banks and Other Financial Institutions of Nicaragua has authorized Banco Corporativo to carry out financial intermediation activities in the country.  

Wednesday, September 17, 2014

The entry of a new financial market participant is received favorably by other banks, provided that "... competitors receive the same conditions. 'Under these paramenters I do not see any problem' ...", mentioned Juan Carlos Samson, manager of BAC Credomatic.

"... The organization, which can accept deposits, was authorized by the Superintendency of Banks and Other Financial Institutions to function, by resolution SIB-OIF-XXII-290-2014, from September 2, 2014, published in the official newspaper La Gaceta, on Thursday, 11 September. " reports that "... up until today, it was not known for certain who the shareholders of the new entity were and other details of its constitution. The only piece of information that was 'common knowledge' was that the Bancorp would manage the resources of the Venezuelan cooperation, which is currently in the hands of commercial banks. "

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