The new bank, with a capital of $20 million, will begin operations in the second quarter of 2014 in the Salvadoran plaza.
On Monday September 23, a group of Salvadoran businessmen signed an act of constitution for Banco Azul de El Salvador, which is chaired by Carlos Enrique Araujo and consists of 100% of shareholders from that country.
Banco Azul, which is to join the 10 other privately owned banks, is characterized by having Salvadorans shareholders.
The Superintendency of the Financial System is considering the application of a Salvadoran entity which, if there are no objections, will proceed to incorporate the company Banco Azul de El Salvador S.A. in August.
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