Guatemalan Banks Consolidate

In the last ten years the number of banks operating in the country fell by 52.6%.

Tuesday, October 5, 2010

According to information from the Superintendency of Banks (SIB), in 1999 there were 38 banks operating in the country, dropping to 18 in 2010. In contrast, sector earnings rose 1736.7%.

Bankers and financial analysts agree today that the financial system is stronger.

Journalist Fernando Quinonez, from, on his article reports statements from the CEO of G & T Continental Bank and former president of Banco de Guatemala (Banguat), Federico Linares, "...the country will continue to operate with the same number of banks, the sector has been very demanding in lending, remember that only about 5 years ago it was enough for individuals to only have a guarantee in order to get a loan, but now, in addition, we analyze payment capabilities."

More on this topic

Guatemala: Banking Panorama - July 2016

July 2016

Fitch Ratings notes that the Guatemalan banking system reports one of the lowest rates of delinquency in the region.

From the report 'Panorama of Guatemalan Banks' by Fitch Ratings:

Local Majority Banking System: The largest banks (70% of loans in the system) belong to local shareholders. At the same time, foreign-owned banks increased their share after Bancolombia acquired the controlling stake in Banco Agromercantil de Guatemala, S.A. (BAM).

Guatemala: Bank Assets Up 12%

July 2014

In the first half of 2014 banks assets in the country increased by 12% compared to the same period in 2013, while the amount of loans granted grew by 11%.

Data from the Superintendence of Banks of Guatemala reveals that the profits made by banks in the same period grew by only 0.87%.

Panama Pushes Back Banking Software Bidding

April 2010

“Banco Nacional” (BNP) postponed until May 7 the bidding process for supplying it with an integral banking management system.

The bank was expected to receive the proposals today, but decided to push the date back because the bidding rules were modified.

BNP explained that the new dates are intended to give suppliers more time to collect the required information and bid for the contract.

Panama: $21.2 Million in Banking Software

March 2010

Bids were invited to provide a Core Banking system for various state-owned banks.

The contract comprises licenses, installation, adaptation, migration and implementation of a banking management system, integration with other systems and reports.

It will be used by “Banco Nacional de Panama”, “Banco de Desarrollo Agropecuario” and “Banco Hipotecario Nacional”.

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