Banking Figures in Guatemala

As of March 2018, banks registered 6,230 agents and 8,668 establishments, 8% and 21% more than in the same month in 2017, while 337 branches were closed.

Friday, May 4, 2018

According to figures from the Superintendency of Banks, between the months of March 2017 and 2018, the number of banking agencies nationwide fell from 3,614 to 3,277, which is equivalent to a fall of 9%. This contrasts with the increases recorded in the number of agents and banking establishments.   

Regarding the reasons for the reported behavior, Carlos González, analyst at the Association of Research and Social Studies, explained to Dca.gob.gt that "... Technology and the fact that small businesses can carry out certain monetary transactions is leading banks to change their model to one that does not require users to go to branches to carry out their transactions.'"

The article reports that "... According to data from the SIB, the number of establishments that Crédito Hipotecario Nacional opened in the last year increased by 455%, going from 185 to 842. In addition, Banco de Desarrollo Rural, S.A. continued to strengthen its presence in this segment, reaching 2,599 authorized branches and 2,815 centers. In second place was Banco G&T Continental, with 1,326 agents and 1,727 establishments, while Banco Industrial reached 1,782 agents and 2,162, respectively."

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