New Bank in Nicaragua

Authorities stated that the start of operations of the Honduran bank Atlántida is scheduled for early May.

Monday, April 16, 2018

Following presentation of the annual report by the Superintendency of Banks and Other Financial Institutions (Siboif), the head of the institution took the opportunity to state that the bank which already is operating in the Honduran financial system will start operations in the coming weeks.

The Superintendent of Banks, Víctor Urcuyo, explained to Laprensa.com.ni that " ...(After the authorization) it must be within six months (that it starts to operate), at the end of April or at the beginning of the following month it would have to be in operation. "

The article adds that " ...Through a resolution published in La Gaceta on November 15, 2015, the board of directors of the Siboif made official the authorization for the constitution of a public limited company of a banking nature under the name: 'Banco Atlántida de Nicaragua S.A. or simply Banco Atlántida Nicaragua or Banco Atlántida'."

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More on this topic

Nicaragua: Banco Atlántida Operations Approved

October 2019

The Superintendence of Banks granted permission for Banco Atlántida, an entity of Honduran origin, to begin operating throughout the country under local supervision and regulation.

The constitution of Banco Atlántida in Nicaragua was authorized on October 24, 2017, but it was not until October 2, 2019 that the permit to operate in the financial system was published in La Gaceta.

Nicaragua: New Player in the Banking Market

November 2017

The Honduran Banco Atlántida has received authorization to operate in the Nicaraguan financial market.

As of November 15, the Honduran bank will have 180 days to comply with the requirements in the law for banks and financial institutions.

"... Through a resolution published in La Gaceta on November 15, the board of directors of the Siboif made official the authorization for the constitution of a banking corporation under the name: `Banco Atlántida de Nicaragua S.A. or simply Banco Atlántida Nicaragua or Banco Atlántida'."

Nicaragua: Less Correspondent Banking

April 2016

According to the nicaraguan regulator, the increasing amount of regulation and anti-money laundering controls that the US banks are subject to, has led some of them to remove their correspondent agencies from the country.

The president of the Association of Private Banks in Nicaragua (Asobanp), Juan Carlos Arguello, said in an article on Laprensa.com.ni that "...

El Salvador: Preparations for Opening of Banco Azul

June 2015

Having obtained authorization to operate from the Superintendence of the Financial System, the new bank has announced that it will start operations on July 20.

The bank will start with nine agencies in different parts of El Salvador, credit card services, online banking and 26 of its own ATMs. This will be the first proposal from a bank founded on fully Salvadoran capital, after sales of local banks in previous years.

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