The Superintendence of Competition authorized the merger request submitted in 2019 by the conglomerates Inversiones Financieras Imperia Cuscatlán and The Bank of Nova Scotia.
The Superintendence of Competition notified Imperia Intercontinental Inc., the main shareholder of Banco Cuscatlán, that the request to purchase the banking and insurance operations of the Canadian entity was accepted.
Imperia Intercontinental Inc., the main shareholder of Banco Cuscatlán, reached an agreement to purchase the banking and insurance operations of the entity of Canadian origin.
The sale of Scotiabank's operations in El Salvador is subject to authorization by the Superintendence of Competition and the Superintendence of the Financial System.
Grupo Prival, a financial institution of Panamanian origin, has announced the sale of its subsidiary Prival Securities El Salvador, on May 8, 2018.
Elcapitalfinanciero.com reports that "... In a note sent to the Superintendency of the Stock Market (SMV) for public knowledge, the banking institution reported that the change was duly notified and authorized by the Superintendency of Banks of Panama (SBP). "
The business group chaired by the Panamanian Stanley Motta may be interested in acquiring units of Citi's consumer banking operations in Panama and Costa Rica.
It is not yet been revealed which of Citibank' consumer banking companies in Panama and Costa Rica they may be interested in acquiring. However, potential stakeholders include the General Bank of Panama and Grupo ASSA, which in addition to being insurers, also runs La Hipotecaria.
The banks Davivienda and Grupo Aval, already present in Central America, could be in talks with Citi to acquire its consumer banking operations in the region.
The sale of assets of Citigroup in 7 countries in Latin America represents an expansion opportunity for Colombian banks. Bloomberg reports cited by Elfinancierocr.com note that in the case of Banco Davivienda, it's interest is soley in the consumer banking units in Peru and Guatemala.
With amounts from $5 to over $50,000, people bought 1412 shares in Banco Azul which will begin operations in 2014.
This amount makes up the $60 million needed for the start of operations by the entity which was formed last September with a capital of $20 million. Of the 1,412 shareholders 97% are natural persons and 3% are companies.
"... When we announced the creation of Banco Azul El Salvador, on September 23rd, I said that one of our market differentiators, would be to convert ourselves into an attractive investment instrument for Salvadorans through the possibility of becoming shareholders," said Carlos Araujo, president of the institution.
The Colombian Bank has made an offer to purchase 100% of BAC-Credomatic’s shares.
The value of the offer was kept private, but it was known that it expires on the afternoon of June 10.
“After being authorized by the board of ‘Banco de Bogotá’, its president instructed one of its subsidiaries to make an offer for 100% of the shares of BAC-Credomatic Central America”, said a source from the Colombian Financial Superintendence to Terra.com.
Juan Carlos Sansón, general manager of BAC-Credomatic, stated that GE’s sale of BAC-Credomatic shares is “nothing but a rumor”.
He told newspaper La Prensa that they don’t have any official information confirming that General Electric intends to sell Bac-Credomatic. He did acknowledge, however, that GE intends to reduce its participation in the financial market.
The American financial giant GE Money is negotiating to buy more shares in the Bank of Central America (BAC Credomatic) over the medium term.
In 2006 the two firms signed an agrement under which GE Money would acquire 49.99 percent of BAC's capital.
Edmundo Vallejo, president of GE Money Latin America, said there is a possibility of buying more BAC shares, and to consolidate their operations.