Colombian Banks to Arrive in Guatemala with the FTA

The financial group Bancolombia would come to Guatemala with the signing of the Free Trade Agreement between both countries.

Thursday, March 26, 2009

Prensa Libre reported that the Colombian ambassador in Guatemala, Eduardo Lopez Sabogal indicated that the Bancolombia Group has been negotiating with domestic private banks, looking for a strategic alliance, similar to the one developed in El Salvador, with the purchase of the Banco Agrícola.

More on this topic

Canal Bank and Lafise After Banco Universal

October 2015

Following the suspension of operations in June, the Banco Universal de Panama entered into an organizational process that culminated with the sale of assets and liabilities of the company.

The invitation to participate in the expressions of interest was issued to all banking institutions with a general license in the Panamanian banking system. The finalists in this auction, as reported Prensa.com, are Canal Bank and Lafise.

Sale of Citi El Salvador to Terra Group

October 2015

It has emerged that the operation may include the insurance company SISA, and that the transaction may be worth $180 million.

An article on Elmundo.sv reports that "... Almost a year after announcing its departure from the retail banking market in 11 countries, yesterday it emerged that Citigroup has finally reached an agreement to sell its operations in El Salvador.

Guatemala: Workers Bank acquires the Bank of the Republic

October 2008

The Workers Bank (Bantrab) bought 99.97% of shares in the Bank of the Republic for $21 million.

The purchase has to be reviewed by the Monetary Board which can deny or postpone the acquisition and merger.

With this purchase, the Bantrab will adds assets worth $125.24 million, deposits at $95 million and a credit portfolio of $86 million. As of September 30, the Bantrab had assets worth $451 million and $334 in deposits.

Guatemala: Campero signs alliance agreement with Spanish firm

May 2008

The Spanish multi-national Eat Out and Pollo Campero signed an agreement on April 29 to form an alliance to expand the operations of both companies in Central America and Spain.

The companies created a new corporation, whose name was not revealed, in which Eat Out is the majority shareholder. Eat Out belongs to Grupo Agrolimen and Pollo Campero is part of the Guatemalan multi-national Multi Inversiones.

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