Interest Persists in Citi's Regional Operations

The business group chaired by the Panamanian Stanley Motta may be interested in acquiring units of Citi's consumer banking operations in Panama and Costa Rica.

Tuesday, April 7, 2015

It is not yet been revealed which of Citibank' consumer banking companies in Panama and Costa Rica they may be interested in acquiring. However, potential stakeholders include the General Bank of Panama and Grupo ASSA, which in addition to being insurers, also runs La Hipotecaria.

The businessman, Stanley Motta told Elsalvador.com that "... We're looking at the assets that Citibank has in Panama and Costa Rica, mainly. They are evaluating what they will do with the different assets. I'm not very close to the process. I know that we were interested and we are still interested, that's all I can say. "

"... International media such as Bloomberg pointed out that negotiations are conducted under a confidentiality agreement between Citi and the interested parties."



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Costa Rica: Panamanian Group enters the Banking Market

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Authorization has been given to Grupo Prival de Panama to complete the transaction to acquire 100% of the shares of Banco Bansol in Costa Rica.

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Ficohsa Acquires Citi in Nicaragua

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The transaction involves the acquisition of all of Citi's operations in the country, including commercial loans, personal loans, deposits and credit cards.

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The company has been consolidated among the 10 largest financial groups in Central America

Spanish Bank After Citi's Regional Operations

March 2015

Aside from the Colombian Grupo Aval, the Spanish company Banco Popular may also be in negotiations to acquire Citi's entire consumer banking operation in Central America.

The sixth largest bank in Spain, which at the moment has no presence in Central America, could be interested in acquiring the consumer banking operation that Citi has put up for sale in Costa Rica, El Salvador, Guatemala, Nicaragua and Panama.

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