GE Money to increase its participation in BACThursday, July 10, 2008 The American financial giant GE Money is negotiating to buy more shares in the Bank of Central America (BAC Credomatic) over the medium term. In 2006 the two firms signed an agrement under which GE Money would acquire 49.99 percent of BAC's capital. Coldwell Banker Affliates of Central America Company Profile Organization that operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama.
Balboa Bank to Go on SaleMonday, July 4, 2016 After the bank was taken over because of its inclusion in the Clinton List drawn up by the U.S. Treasury Department, the Superintendency of Banks has ordered its reorganization and sale to another bank. From a statement issued by the Superintendency of Banks in Panama: USA Denounces Money Laundering Network in PanamaFriday, May 6, 2016 A list of people and companies involved in international money laundering includes brothers Abdul and Nidal Waked, another 6 individuals, and 68 companies, among which is Balboa Bank. The businessmen Abdul and Nidal Waked and companies such as Grupo Wisa, Vida Panama and Balboa Bank, have been included in the "Clinton" list which indicates which people and related organizations are linked to money laundering and drug trafficking activities. Panama: Interventions in Balboa Bank and Balboa SecuritiesFriday, May 6, 2016 As a result of the inclusion of both companies in the "Clinton" list drawn up by the US Treasury Department, the respective Superintendents have ordered interventions. For its part the Administration of Supervision and Regulation of Non-Financial Subjects activated special supervisions in non-financial companies which are listed by the OFAC as part of the network, in this case those operating in Colon Free Zone: Grupo Wisa, S.A., Vida Panama S.A., Servicio de Equipo Rodante Incorporado and Grupo Cima S.A., among others. Central America Gets $40 Million for Renewable EnergyMonday, April 19, 2010 They will be given in ‘environmental’ loans to Central American small and medium enterprises. These resources, loaned by the German Development Bank (KFW), will be administered by the Central American Bank for Economic Integration (CABEI). Panama Leads Region in BankingTuesday, January 11, 2011 Panama ranks second in Latin America in number of bank branches and ATMs per 100,000 people with 90.28, surpassed only by Brazil with 99.37. "Banking, or access to banking services, plays an important role in economic development of countries and in reducing poverty while promoting income distribution." Company Profile
Real Estate Investment Banking in Central America Structured Finance in PanamaTuesday, November 26, 2013 On December 4th Fitch Ratings will hold a conference entitled 'Challenges and Opportunities for Structured Finance and Infrastructure in Central America and the Caribbean.' Securitization of Assets, an Option for Capital Markets in the Region, is one of the subjects to be discussed in the event's agenda. Participants will include Marielena Garcia, SVP of Investment Banking at MMG Bank Corp, Alberto Gutierrez, president of Titularizadora Colombiana, John Rauschkolb, General Manager La Hipotecaria and Diego Torres, vice general manager of BHD Valores Puesto de Bolsa. BAC Credomatic Buys Guatemalan BankThursday, June 27, 2013 The bank, owned by Colombia's Grupo Aval has bought Grupo Financiero, which includes Banco Reformador in Guatemala and Transcom Bank Limited of Barbados. The only thing now pending is approval of this transaction by the financial market's supervisory authorities in the country. According to the general manager of BAC San José in Costa Rica, Gerardo Corrales, the intention of this purchase is to strengthen corporate banking in the Guatemalan market.. Taiwan Offers Credit to Nicaraguan ImportersFriday, August 30, 2013 Nicaraguan importers could receive funding for up to 85% of the value of their purchase of products from Taiwan. The information was released by Enrique Zamora, corporate director of BanCentro Lafise, the entity selected by the Embassy of the Asian nation in Nicaragua to manage a revolving credit facility with the Export-Import Bank, Eximbank. Citibank with Regional FocusMonday, March 9, 2009 The region which produces 13% of the bank's Latin American utilities is seen by the bank as an economic block. The Guatemalan newspaper Siglo XXI interviewed the CEO of Citi Guatemala, Juan Miró, who reported that they are currently working on optimizing the IT platform in order to better serve the Central American market. Bancolombia Purchases HSBC PanamaTuesday, February 19, 2013 HSBC Latin America Holdings Limited, a wholly owned subsidiary of HSBC Holdings plc, has entered into an agreement to sell HSBC Bank (Panama) SA to Bancolombia SA for a total consideration of US$2.1bn in cash. HSBC Latin America Holdings (UK) Limited, a wholly owned subsidiary of HSBC Holdings plc (“HSBC”), has entered into an agreement to sell HSBC Bank (Panama) SA to Bancolombia SA (“Bancolombia”) for a total consideration of US$2.1bn in cash, based upon estimated net asset value at completion of US$700m. The transaction is subject to regulatory approvals and other conditions and is expected to complete by the third quarter of 2013. Nicaragua: $34 Million for Rural ElectricityWednesday, February 8, 2017 With a loan from Exim Bank from India approved by the Assembly, new transmission lines and substations will be built in the Autonomous Region of the Southern Caribbean. From a statement issued by the National Assembly of Nicaragua: The Smell of Blood in the Financial MarketsTuesday, July 19, 2011 Financial markets are in turmoil. Shares of banks are going down. European bonds are paying out record rates. Big corporations are announcing layoffs. |
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