Colombian Investment Boom in Central America

Direct investment by Colombian companies came to about $1 billion in 2010, a giant leap forward compared to the $27 million in 2004.

Monday, January 30, 2012

Central America has become a kind of "Promised Land" for large companies in Colombia, writes ElTiempo.com.

The latest example of large-scale landing in the economies of the isthmus is the recent $801 million purchase of the assets of the HSBC bank in Costa Rica, El Salvador and Honduras by Banco Davivienda.

"Also noteworthy was the purchase of the Agricultural Bank of El Salvador by Bancolombia and BAC Credomatic, which was sold to the Banco de Bogota. Similarly, the alliance between Avianca and the Salvadoran Taca," according to the website.



More on this topic

$6.84 Billion From Colombian Banks in Central America

October 2013

Since 2007 Colombian bankers have made progress in the region, led by Bancolombia with $3,216 million and Grupo Aval with $2.821 million.

For example, in Panama they have operations with "... large international banks because it is considered a tax haven, where it is possible to make investments and transactions swiftly and without a lot of questions being asked by local controlling entities," noted an article in portafolio.co.

In Guatemala, Credit is Colombian

March 2012

In the past two years, over $2 billion worth of financing for large enterprises in Guatemala has been provided by large Colombian banks.

The main participant is Bancolombia, which in 2010 and 2011 was involved in syndicated loans for over $1 billion, including the acquisition of Deorsa and Deocsa by Britain's Actis, the extension of Ingenio Magdalena and financing for Cementos Progreso and Cabcorp.

Colombian Banking in Central America

June 2010

The offer to buy BAC-Credomatic made by Banco de Bogotá confirms that Colombia’s large financial groups are seeking to expand their borders.

An article in Portafolio.com.co remarks that BAC has so far not responded to the Colombians. The financial website also lists the international operations of Colombia’s financial institutions such as Colpatria, Davivienda and Bancolombia.

Banco de Bogotá Interested in BAC-Credomatic

June 2010

The Colombian Bank has made an offer to purchase 100% of BAC-Credomatic’s shares.

The value of the offer was kept private, but it was known that it expires on the afternoon of June 10.

“After being authorized by the board of ‘Banco de Bogotá’, its president instructed one of its subsidiaries to make an offer for 100% of the shares of BAC-Credomatic Central America”, said a source from the Colombian Financial Superintendence to Terra.com.

 close (x)

Receive more news about Banking

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Apr 8)
Brent Crude Oil
34.43
Coffee "C"
120.25
Gold
1,680
Silver
15.345