Banco Azul to Start Operations in 2014

The new bank, with a capital of $20 million, will begin operations in the second quarter of 2014 in the Salvadoran plaza.

Tuesday, September 24, 2013

On Monday September 23, a group of Salvadoran businessmen signed an act of constitution for Banco Azul de El Salvador, which is chaired by Carlos Enrique Araujo and consists of 100% of shareholders from that country.

During its first year of operations, Banco Azul intends to open 10 branches, 7 in San Salvador and another 3 in the interior of the country.

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Guatemalan Bank Could Operate in Panama

August 2014

Banco Industrial has announced that it is prepared to start operations in Panama's financial center in the first quarter of 2015.

The Bank which is of Guatemalan origin, and which already has a presence in Honduras and El Salvador, is preparing to open its offices in Panama City, driven by the economic growth there.

El Salvador: New bank Raises $40 million From Small Investors

December 2013

With amounts from $5 to over $50,000, people bought 1412 shares in Banco Azul which will begin operations in 2014.

This amount makes up the $60 million needed for the start of operations by the entity which was formed last September with a capital of $20 million. Of the 1,412 shareholders 97% are natural persons and 3% are companies.

El Salvador: New Bank Requests License

July 2013

Banco Azul, which is to join the 10 other privately owned banks, is characterized by having Salvadorans shareholders.

The Superintendency of the Financial System is considering the application of a Salvadoran entity which, if there are no objections, will proceed to incorporate the company Banco Azul de El Salvador S.A. in August.

Guatemalan Banrural to Operate in Honduras

January 2013

With an investment of $220 million the Rural Development Bank of Guatemala plans to start operations in Honduras in May 2013.

The announcement of the expansion of the bank towards its neighboring country came amidst the celebration of the General Assembly of Shareholders of the Bank for Rural Development.

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