As of April 2021, the Ventus wind power plant, an electricity generation park with an installed capacity of 54 MW, will begin operating in El Salvador.
The new power generation park, which has 15 wind turbines of 120 meters high each, is located in the municipality of Metapan, Department of Santa Ana.
The Superintendence of Competition authorized the merger request submitted in 2019 by the conglomerates Inversiones Financieras Imperia Cuscatlán and The Bank of Nova Scotia.
Banco Cuscatlán approved a $10 million loan for the construction of part of the Ventus wind farm, which will have a capacity of 54 MW and will be in the municipality of Metapán.
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.
On the local stock exchange Cuscatlán bank has issued five-year dollar investment certificates at a rate of 5.8%.
Elsalvador.com reports that "...This is the placement of the first tranche of the issue "CICUSCA$01", with which the bank is aiming to issue investment certificates worth a total of $150 million in order to obtain efficient financing through the El Salvador Stock Exchange.This amount will be issued at the appropriate time according to liquidity needs."
The operations of Citi Tarjetas and Citibank personal banking, now owned by Grupo Terra, will once again operate under the Cuscatlán brand.
Terra Group has confirmed it will once again be using the Cuscatlán brand to provide"... products and specialized financial services for the following segments: Personal Banking, Corporate Banking, Retail Banking, Business Banking and Insurance Banking"according to a statement issued by the company.
Citibank got the approval of the Salvadoran authorities to integrate the operations of Banco Uno Bank and Cuscatlan Bank.
The Superintendence of the Financial System (SSF) reported yesterday that the Board granted its approval last Wednesday after receiving the corresponding reports.
On Monday, September 8, operations as a merged bank and merged financial investment companies will begin under the name of Citibank.
The Superintendence of the Financial System will announce next week whether or not both entities can begin to operate as Citibank, after their merger.
Citigroup Inc. completed the purchase of the Corporación Unión de Bancos Cuscatlán Internacional (UBCI), owner of Cuscatlan Bank, in May 2007, and in March of the same year it acquired the Financiero Uno Group (GFU).
Yesterday Citi announced changes in its regional organization that will affect the integration process with Cuscatlán and Banco Uno.
Eduardo del Rincón, currently CEO of Grupo Financiero Uno, will become the new Central American Director of Citi. He will be responsible for the successful integration of the three banks (Banco Cuscatlán, Grupo Financiero Uno and Citi), and will be in charge of the Central American credit card operations.
El Salvador-based Banco Cuscatlán announced that it will officially take over Banco Uno on July 1. Both banks were acquired by Citigroup at the end of 2006.
Grupo Uno, which owns Banco Uno and Aval Card in Costa Rica, also has operations in Honduras, Guatemala Nicaragua, El Salvador and Panama.
The takeover was approved by Banco Cuscatlán shareholders April 15, the bank said in a stock market filing.