G&T Continental Bank of Guatemala will issue preferred shares

On Tuesday Guatemala's Monetary Committee was advised of the request of G&T Continental Bank to issue a series of preferred shares for 70 million dollars at a fixed interest rate.

Thursday, June 5, 2008

G&T is the second financial group within the past year to use this type of instrument to increase its paid capital. Last September the Banco de los Trabajadores (Workers' Bank) issued 20 million dollars' worth of preferred shares.
The rating agency Standard & Poor's says the preferred shares issue and the resulting injection of new captial will be sufficient to improve G&T's capitalization and maintain its BB- Stable rating.

More on this topic

IDB Loans $70 Million to Banco G&T Continental

January 2010

The loan to the Guatemalan bank aims to finance import and export operations.

Within the Trade Finance Facilitation Program (TFFP), the Inter-American Development Bank (IDB) granted Guatemalan Bank G&T Continental $70 million.

Flavio Montenegro, G&T CEO, remarked: "This transaction strengthens our trade operations and supports the economy of Guatemala, as it increases the funding available for our nation's industries".

G&T Continental Expands in El Salvador

December 2009

By opening its 11th branch, Grupo Financiero G&T Continental now features 600 locations in Central America.

The new Salvadoran branch is located at Shopping Mall Aventura Plaza, and will offer services in financing, investment, treasury, commerce, cash management and corporate and individual advising.

$25 Million for G&T Continental Bank

April 2009

The IFC announced the addition of the Bank to the Global Foreign Trade Finance Program (GTFP).

The objective of the International Finance Corporation is to support local banks in promoting trade within their respective countries.

The manager of the international area of G&T Continental Bank, Sergio Bocanegra, told Siglo XXI: "The amount could rise to $50 million within 6 months.

IFC is the new strategic partner of Banco G&T of Guatemala

July 2008

The International Finance Corporation signed an agreement yesterday that makes it a strategic partner of Banco G&T Continental, where it will invest $70 million.

This is the most important direct investment done by the IFC in Central America, and the first of its kind in Guatemala, stated Flavio Montenegro, CEO of Banco G&T Continental.

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