Honduras: Ficohsa Completes Purchase of Citibank

The Honduran bank has concluded the operation for the purchase and transfer of shares of the companies Citibank and Cititarjetas of Honduras.

Tuesday, July 1, 2014

From a press release issued by Bank Ficohsa:

Ficohsa Bank announced that the purchase and transfer of shares of Banco Citibank de Honduras, SA and Cititarjetas of Honduras, SA, in its favor is already effective, after the National Banking and Insurance Commission (CNBS) and the Commission for the Defense and Promotion of Competition authorized the transaction. The transaction does not include Banco de Honduras, SA which manages the Corporate Banking products at Citibank in Honduras.

This acquisition, the largest by a Honduran bank consolidates the operations of Ficohsa Bank in Honduras, demonstrating its commitment to the country. Additionally, this operation makes Ficohsa the country's largest bank and ranks among the top 10 in the region.

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The Superintendence of Competition has authorized the Honduran company Imperia Intercontinental and Inversiones El Salvador to buy Banco Citibank, five of its subsidiaries, Seguros e Inversiones, and Cititarjetas.

From a statement issued by the Superintendency of Competition in El Salvador:

El Salvador: Sale of Citi to Terra Group Confirmed

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The sale of Citibank operations in El Salvador to Honduras' Grupo Terra has been formalized, with the insurer SISA included in the transaction.

From a statement issued by the Stock Exchange of El Salvador:

It was reported that subject to regulatory approvals from the competent Salvadoran authorities, Inversiones Financieras Citibank, S.A.

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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