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Grupo Bancolombia is Majority Stakeholder in Grupo Agromercantil

With the purchase of another 20% stake, Bancolombia Group now holds 60% of the shares of the Group Agromercantil de Guatemala.

Tuesday, January 5, 2016

Two years after the acquisition of a 40% stake of Argomercantil Holding Group, Grupo Bancolombia has decided to consolidate its presence in the country by acquiring a further 20%. The Colombian company said the acquisition is part of a consolidation strategy in Guatemala and Central America.

Panamaamerica.com.pa reports that "... The first 40% Argomercantil Holding Group, the holder of shares in the Agromercantil Financial Group and its affiliates, including the Bank of Guatemala Agromercantil (BAM), was acquired in December 2012 by Bancolombia. "

"... The operation was concluded after approval was given by the authorities of Colombia, Panama and Guatema."

Source: Panamaamerica.com.pa

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Key entities

Grupo Bancolombia Banco Agromercantil (Guatemala)

Countries

Guatemala Colombia

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New Guatemalan Bank in Panama

February 2018

The financial group G & T Continental has obtained a general license to expand the services it provides in Panama, where it plans to strengthen its corporate and private banking area.

The financial institution started operations in Panama in July 2008 under the name of Banco Financia, S.A. (BMF) and in 2009 changed its name to Banco G & T Continental (Panamá) S.A.

The Largest Banks in Guatemala

May 2016

According to Fitch low capitalization indicators continue to reflect a structural weakness, with a potential reduction in the net interest margin and relatively high dividend payments.

From a statement issued by Fitch Central America:

Largest banks in Guatemala: Sovereign Risk Puts Pressure on Ratings

Moody's Warns of Weaknesses in Centralamerican Banks

July 2015

The banks Banco de Costa Rica, Banco Nacional and the Banco Industrial de Guatemala "will have to reduce the growth rate of their loans, since their core capital levels remain modest."

From Moody's press release:

Mexico, July 21, 2015 -- Central America's leading banks will need to slow the pace of their loan growth as their core capital levels remain modest, said Moody's Investors Service in a new report.

Fitch's Analysis of Banking in Guatemala

July 2015

The five largest banks account for 82% of total assets in the system, three of them focusing on the corporate credit segment and the other two on retail banking.

From the report by Fitch Ratings "Panorama of Banks and Guatemala"

Largest banks of Guatemala: Related to the Sovereign Ratings