Guatemala people's banks seek cross-border business

Guatemala's "people's banks", that lend to the likes of small shopkeepers, aim to take their business model to the rest of Central America.

Monday, May 26, 2008

G&T Continental and Banco Industrial (BI) run mini-branches where low-income customers can cash cheques, open savings accounts and pay public-service bills.
Boosted by their success, each of the banks is aiming to reach 2,000 branches by the end of the year, some of them in Honduras, Nicaragua and El Salvador.

More on this topic

IFC invests $ 10 million in Seguros G&T

January 2011

The International Finance Corporation (IFC) will acquire up to 15% of the assets of the Guatemalan insurer.

The capital will be used to develop a model of "Bancassurance", which will market the insurance products through the network of branches owned by Banco G&T Continental, a sister company of the insurer.

65% of Guatemalan Deposits in Just Three Banks

April 2010

From all the resources deposited in the Guatemalan banking system, 65.3% is concentrated in banks Industrial, G&T Continental and Banrural.

The figure corresponds to February 2010. According to the Banking Superintendence, in the same month of 2009 these banks had 64% of the deposits, out of a total 18 banking institutions in Guatemala.

IDB Loans $70 Million to Banco G&T Continental

January 2010

The loan to the Guatemalan bank aims to finance import and export operations.

Within the Trade Finance Facilitation Program (TFFP), the Inter-American Development Bank (IDB) granted Guatemalan Bank G&T Continental $70 million.

Flavio Montenegro, G&T CEO, remarked: "This transaction strengthens our trade operations and supports the economy of Guatemala, as it increases the funding available for our nation's industries".

G&T Continental Expands in El Salvador

December 2009

By opening its 11th branch, Grupo Financiero G&T Continental now features 600 locations in Central America.

The new Salvadoran branch is located at Shopping Mall Aventura Plaza, and will offer services in financing, investment, treasury, commerce, cash management and corporate and individual advising.

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