The financial group from Nicaragua has announced the acquisition of the consumer and commercial banking operations of Citi in Guatemala.
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.
The company has said it will invest $30 million in the construction of an environmentally friendly banking building.
"The complex and corporate park is the first building in Guatemala for a financial institution which is registered for LEED certification (acronym for Leadership in Energy & Environmental Design)", which supports the reduction of environmental impact by reducing energy consumption , water and carbon dioxide emissions, said the CEO of Citi Guatemala, Bernardo Chacin.
G & T Continental has acquired, at $64 million, Citibank de Guatemala’s housing portfolio.
Flavio Montenegro, general manager of G & T Continental, said the payment was in cash and Citibank de Guatemala has already handed over the records of the respective accounts.
For its part, Crista Kepfer, public relations officer of Citibank, told Prensalibre.com,"The decision was made to sell the FHA mortgage portfolio as part of Citi's strategy of focusing on a global scale in other banking segments and using those resources to invest in other lines of business. "
Through CitiFx Pulse, Citi's corporate clients will be able to engage in real-time currency transactions via Internet.
The tools includes analysis tools, such as charts, reports and documents written by Citi's analysts, in order to assist the investor.
"With this system, the customer can trade national and foreign currencies. CitiFx Pulse takes care of all the customer's currency needs in a single screen.
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