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. 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. 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. HSBC Closes Office in GuatemalaFriday, May 20, 2011 The bank Hong Kong and Shanghai Banking Corporation (HSBC) argue that the main reason for the closure is the effects of the global economic crisis. In October 2009 the bank had set up the office which was dedicated to providing services to importers, exporters, multinational and transnational companies as well as offering trade services, loans and foreign accounts. Eurobonds: Risk Rating ConfirmedMonday, November 11, 2019 Standard & Poor's has given a B+ rating to the $1.5 billion debt issue that Costa Rica expects to place in the international market in November. "Global Ratings today assigned a "B+" rating to the prospective reopening of Costa Rica's notes which have a 7.158% rate maturing in 2045 and a "B+" rating in its planned issuance of notes maturing in 2031, the latter issue still does not have a defined trading rate," the rating agency said on November 8. Citi to Sell its Operations in Central AmericaTuesday, October 14, 2014 The group has announced that as part of its long-term strategy it will withdraw from the consumer banking business in Costa Rica, El Salvador, Panama, Guatemala and Nicaragua. Extract from a statement issued by Citigroup: |
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