Promerica Buys Citi Guatemala

The financial group from Nicaragua has announced the acquisition of the consumer and commercial banking operations of Citi in Guatemala.

Friday, September 18, 2015

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.

Citi's consumer banking portfolio in Guatemala includes personal loans, credit cards, deposit accounts, as well as all the services of individual banks and commercial banks Banco Citibank de Guatemala SA and Cititarjetas de Guatemala Ltda.

After 24 years of successful performance, Promerica Group has become one of the most important financial groups in the region, with total assets as of June 30, 2015, exceeding Q.82,900 million quetzales (US $10.872 million) and a presence in 10 countries: Ecuador, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama, the Cayman Islands, the Dominican Republic and its affiliate in the United States. With this acquisition, the total assets of Promerica Group exceed Q.89,494 million quetzales (US $11,737,000).

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