Ficohsa Acquires Citi in Nicaragua

The transaction involves the acquisition of all of Citi's operations in the country, including commercial loans, personal loans, deposits and credit cards.

Thursday, March 26, 2015

From a statement issued by Ficohsa Group:

The company has been consolidated among the 10 largest financial groups in Central America

* The transaction involves the acquisition of all of Citi's operations in Nicaragua: commercial loans, personal loans, deposits and credit cards.

* The transaction is subject to regulatory approval. During this process, Citi will continue to operate in the same way that it has always done.

* The acquisition will follow the successful integration of Citi's operations in Honduras by Banco Ficohsa.

El Financiero Ficohsa (GFF) Group announced that it has reached an agreement to acquire all of the shares of Citibank Nicaragua, SA and Cititarjetas of Nicaragua, SA The acquisition is subject to approval by the Superintendency of Banks and Other Financial Institutions of Nicaragua (SIBOIF), and the Superintendency of Banks of Panama (SBP).

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

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Promerica Buys Citi Guatemala

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The financial group from Nicaragua has announced the acquisition of the consumer and commercial banking operations of Citi in Guatemala.

Promerica Group announces the signing of a definitive agreement for the acquisition of consumer banking and commercial banking of Citi Guatemala, subject to approval from the regulatory agencies.

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