Latinclear Expands to Canada, Mexico, and ArgentinaFriday, June 12, 2009 Central Latinoamericana de Valores S.A. - Latinclear now offers international securities custody services in nine countries. The head office of securities, which began operations in 1997 with the support of the Stock Exchange of Panama, Latinclear, will be introduced to the markets of Canada, Mexico, and Argentina through its Clearstream Banking account in Luxembourg. The New Owners of BAC-CredomaticTuesday, July 20, 2010 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. El Salvador's BFA Tenders Banking SystemTuesday, October 9, 2012 The Agricultural Development Bank (BFA in Spanish) is inviting bids for the implementation of a Banking Information System (CORE BANKING). The bank currently has a portfolio of 148,000 customers, with an average volume of about 23.300 daily transactions. Banrural Expands in the RegionTuesday, January 25, 2011 The Rural Development Bank of Guatemala initiated an expansion process through Central America. During its annual meeting it announced that they have started the admission process in the corresponding bodies of two Central American countries. Due to procedural reasons, they did not specify which. GE sells BAC-Credomatic in Central America to Grupo AvalThursday, July 15, 2010 GE Capital Global Banking announced today that it has reached a definitive agreement to sell BAC Credomatic to Grupo Aval, Colombia’s largest banking holding group, for $1.9 billion. The transaction is subject to certain regulatory approvals and other customary conditions, and the parties anticipate closing by the end of 2010. El Salvador: BFA Puts Banking System Out to TenderFriday, November 19, 2010 The "Banco de Fomento Agropecuario" is inviting bids for supplying an integrated platform to automate its operations (Core Banking). The bank has a portfolio of 100.000 customers processing about 13.500 daily transactions and seeks to implement an integrated IT platform to help manage, record and control the operating revenue and expenses regarding to: Panamanian brand plans expansionTuesday, August 19, 2008 Danté Stores is in negotiation with to join up with an "important international partner" in order to start an "aggressive" expansion of the Panamanian brand. The company has agreed to sell the property where the "first store on Street 50" is located - said property is 5,280 square meters - and will continue its activities in commercial centers. Grupo Ficohsa Enters PanamaTuesday, May 17, 2011 The Honduran banking group has opened its first regional agency in the Panamanian banking center. Camilo Atala, Grupo Ficohsa’s chairman, said the headquarters in Panama will serve as a platform to expand into the rest of the Central American market. Renault Expands in Central AmericaWednesday, March 23, 2011 The company announced expansion plans for Central America and the Caribbean market. From Panama, Denis Barbier, chief executive, said the company has strengthened its presence in Latin America with four assembly plants. El Salvador: $2.7 million in Textile ExpansionMonday, June 13, 2011 The Giuliana company has announced the acquisition of Textiles El Salvador (Texsal) and the expansion of its operations. The company, which specializes in elastic manufacturing, also announced it will venture into yarn dyeing. Italian Group Alce Nero Expands OperationsFriday, April 9, 2010 The organic agriculture company will expands to the U.S. from Costa Rica. In alliance with CSF (“Cooperativas Sin Fronteras”) and Bioproductos Oro Verde, the Italian enterprise seeks to enter the U.S. market using the benefits of the Free Trade Agreement between both countries. Banco Cathay Opens Branch in Costa RicaTuesday, March 2, 2010 As part of its expansion plan in the country, the banking institution opened a new branch in Alajuela. During 2010, the bank plans to open 4 new offices. Colombians Looking to Expand in the RegionFriday, May 4, 2012 Panama and El Salvador are seen by Grupo Sura as countries "with political, social and macroeconomic stability" for their expansion projects. The president of Colombia's Grupo Sura, David Bojanini, said his holding company plans regional procurement in countries that provide economic, political and especially legal security. Bancolombia to Buy Banks, Brokerage Firms, TrustsWednesday, May 30, 2012 The largest financial institution in Colombia is looking in Latin America for good opportunities to acquire assets. Bancolombia started its regional expansion in 2007 by buying Banagrícola in El Salvador, for $900 million. HSBC changes strategy for opening in GuatemalaMonday, November 24, 2008 HSBC will modify its request to open in the country; instead of one branch, it is looking to set up as a local bank. HSBC (the Hong Kong and Shanghai Banking Corporation) has still not landed in the Guatemalan financial market, the only country in Central America where it is missing, and to date this continues to be uncertain as the request process has been changed. |
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