IDB Loans $70 Million to Banco G&T Continental

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

Monday, January 25, 2010

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".

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G&T Continental Expands in El Salvador

October 2010

The Guatemalan financial group plans to open 27 new branches next year in El Salvador.

Flavio Montenegro, General Manager, told Prensa Libre the group already has 23 branches, with the new openings it will consolidate presence in Salvadoran market.

"First, we will consolidate in El Salvador and then will start working in the other markets (Central America)," added the executive.

$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.

G&T Continental Bank expands in Central America

September 2008

G&T Continental Bank's projections for next year are to conquer the financial markets of Costa Rica and Panama and to strengthen their position in El Salvador.

Flavio Montenegro, Director and President of G&T Continental, said that their main operation is in Guatemala, where the companies was born some 45 years ago, and to date they have more than 380 points of service.

G&T Continental Bank of Guatemala will issue preferred shares

June 2008

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.

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.

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