Grupo Ficohsa Acquires Banco Americano

Grupo Financiero Ficohsa has signed an agreement to acquire 90% of the shares of Banco Americano SA, a bank that has been operating in the Guatemalan financial system since 1995.

Thursday, November 10, 2011

A press release from Grupo Financiero Ficohsa states:

The formalization of the transaction is subject to approval by the Guatemalan Superintendency of Banks in accordance with the Regulations for the acquisition of shares approved by the Monetary Board.

Grupo Financiero Ficohsa (GFF) is the main shareholder of Banco Ficohsa, the bank with most capital in the Honduran financial system, and also in Ficohsa Seguros, the largest company in Honduras in terms of net premiums, and the sixth largest in Central America. Grupo Financiero Ficohsa began its internationalization strategy in 2001 through a representative office in Florida, USA, in order to service the market of Honduran migrants. In 2011 Grupo Financiero Ficohsa continued its expansion strategy by launching operations in Panama, with an internationally licensed bank. Today it moves into the country with the largest economy in Central America – Guatemala; acquiring 90% of the shares of Banco Americano, SA and hence establishing operations in three Central American countries, to complement its U.S. operation.

Mario Gonzales Porras, Executive Director of Banco Americano said: "Grupo Financiero Ficohsa will offer customers of Banco Americano S.A. a complete financial platform with regional and international access, but still with the same special treatment that has always differentiated this institution."

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The Superintendency of Banks of Guatemala, in accordance with Article 19 of the Law on Banks and financial groups, has authorized the purchase by Grupo Financiero Ficohsa of 90% of the shares of Banco Americano, S.A.

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