Banco G & T Acquires Citi Guatemala Portfolio

G & T Continental has acquired, at $64 million, Citibank de Guatemala’s housing portfolio.

Friday, December 16, 2011

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.

For its part, Crista Kepfer, public relations officer of Citibank, told,"The decision was made to sell the FHA mortgage portfolio as part of Citi's strategy of focusing on a global scale in other banking segments and using those resources to invest in other lines of business. "

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