Costa Rican Financial Company to go Regional

In late 2010 Financiera Desyfin will begin its expansion plan, opening branches in new countries every three months.

Wednesday, July 15, 2009

Focused in SMEs, the company has factoring as one of its services. Its first branch outside Costa Rica will be either in El Salvador or Guatemala, and from there they will expand to the rest of the Central American countries.

"Today we are in the midst of a regionalization, fueled by free trade agreements" commented Silvio Lacayo, Desyfin´s CEO, in a Nacion.com article, " We have the U.S. as a common main trade partner. Aditionally, companies like Wal-Mart or Grupo Monge have suppliers here and in the rest of the region, creating synergies and making it easier for our business to grow beyond Costa Rica"



More on this topic

Factoring in Panama

July 2013

With steady growth and reaching up to $1 billion a year, this financing mechanism is controlled by 24 companies, mostly banks.

Every year, the activity records growth of between 10% and 20%. "Using a factoring contract, a trader or manufacturer can assign an invoice or other credit document to a factoring company in exchange for a full or partial financial advance" explains an article in Panamaamerica.com.pa.

Nicaragua: Fundeser Becomes Financing Company

December 2012

Micro financing company Fundeser, also known as the Foundation for Socio Economic Rural Development will in February its formal application to become a regulated financial company.

Since 2008 there has been interest from the Foundation to be regulated by the Superintendency of Banks and Other Financial Institutions (Siboif), but the proceedings were suspended because of the financial crisis.

Banrural Expands in the Region

January 2011

The Rural Development Bank of Guatemala initiated an expansion process through Central America.

During its annual meeting it announced that they have started the admission process in the corresponding bodies of two Central American countries. Due to procedural reasons, they did not specify which.

G&T Continental Expands to Costa Rica and Panama

March 2009

In short, Financia in Costa Rica and Banco Financia (BMF) in Panama will begin to use the Guatemalan financial company’s brand.

Both companies were already part of the G&T Continental Financial Group which is now completing the formalities to change the name with the respective supervisory authorities in Costa Rica and Panama.