In Guatemala, the business group of South American origin acquired 40% of the shares still owned by BAM Financial Corporation, and consolidated 100% of the assets of the Agromercantil Holding Group.
Directors of Bancolombia reported that the company will begin the process of authorizations to regulatory bodies and that in the coming days will provide details on the price of shares, according to the contractual rules between the parties who closed the negotiation.
The Superintendence of Competition authorized the merger request submitted in 2019 by the conglomerates Inversiones Financieras Imperia Cuscatlán and The Bank of Nova Scotia.
In principle, the change will only be cosmetic, with the functional and operational structure remaining in place in the 30 offices and subsidiaries that are now part of the Colombian financial group.
In January 2012 Davivienda signed an agreement to the effect that HSBC Costa Rica, HSBC Honduras and HSBC El Salvador form part of the Bank to strengthen its regional presence.
Luis Carlos Sarmiento Angulo, one of the richest men on earth, is the owner of Grupo Aval, which controls some of the largest banks in Colombia.
Grupo Aval agreed to purchase 100% of the shares of BAC-Credomatic from GE Capital for $1.9 billion. Currently, GE owns 75% of BAC-Credomatic and agreed to buy the remaining 25% to sell it to Grupo Aval.
Industry insiders were expecting the Colombian group to expand outside of it home nation, as it had no more room to grow in its domestic market.
With this alliance, Western Union will offer its services in the 25 offices of Financiera Integral, a financing company.
From Elmundo.com.sv: "Western Union continues expanding its network, to enable all Salvadorans to receive family remittances from anywhere in the country".