Panama: Takeover of Bank Involved in Corruption CaseMonday, February 13, 2017 The Superintendency of Banks has taken over administrative and operational control of FPB BANK, after it was linked to the corruption case in Brazil known as "Lava Jato" ('Operation Car Wash' in English). From a statement issued by the Superintendent of Banks: Awards: Private Security for $3.7 millionWednesday, April 1, 2015 The Institute of Aqueducts and Sewers in Panama has awarded contracts for security services to the enterprises Millenium Security Service and Majoli Services. The security service contracts were awarded to the only two bidders: Millenium Security Service, for $3,502,957 million and the company Majoli Services, for $252,000. Single Offer for Tocumen Surveillance TenderFriday, November 29, 2013 Millennium Security Services offered $2.9 million in the abbreviated best value tender for the perimeter surveillance service at Panama International Airport. The evaluation committee resolved that the company complied with the requirements of the specifications of the tender whose reference price $3 million. Energy Projects Dynamize CreditsMonday, February 4, 2019 In Panama, bank credit for power generation projects grew 39% by November 2018, and the increase was mainly due to loans for clean energy projects. According to the latest report of the Superintendence of Banks, in November last year the portfolio of loans granted to the country's industrial sector totaled $3.309 million, equivalent to a 30% increase over the $2.537 million reported in November 2017. Deutsche Bank and HSBC to Sell Costa Rican EurobondsThursday, February 12, 2015 An announcement has been made that the government has selected Deutsche Bank and HSBC to structure and place on the international market an issuance of debt of up to $1 billion, scheduled for February 2014. In order to take advantage of any "window of opportunity" that may present itself in the international market in terms of rate conditions and demand for the issue, the government of Costa Rica has accelerated the process and selected Deutsche Bank and HSBC to lead the process of placement of public debt worth up to $1 billion. Panama: Strength of Banking System ReaffirmedFriday, May 13, 2016 The Superintendency has reiterated that the decision taken to seize administrative and operational control of Balboa Bank & Trust is an isolated case, separate from the rest of the banking system. From a statement issued by the Superintendency of Competition: Deutsche Bank and Citigroup Place EurobondsMonday, October 22, 2012 In the bidding held by the Costa Rican Ministry of Finance other bidders including JP Morgan, Barclays, Credit Suisse and HSBC have been ruled out. The Costa Rican government announced that Citigroup and Deutsche Bank will be responsible for technical advice for the placement of up to $4 billion in Eurobonds. Panama: Global Bank Goes ShoppingTuesday, October 8, 2013 There had been speculation that Global Bank would be sold but shareholders indicate that profits are excellent and instead of selling they are looking to buy other assets. This was confirmed by the senior vice president of finance of the organization, Jorge Enrique Vallarino. "Shareholders have asked us to pursue acquisition opportunities in Panama, I would say you could see Global Bank acquiring a smaller competitor, instead of selling its shares," he said. Panama: AllBank to Keep InterveningTuesday, October 22, 2019 Until November 8, 2019, the operational and administrative control of AllBank, Corp. was extended, an entity that was intervened because its " shareholders did not attend in time and opportunity the requirements of the corrective actions." Through Resolution SBP 0169-2019 the Superintendency ordered the operational and administrative takeover of AllBank, Corp, effective as of 3:00 p.m. on September 9, 2019. Ethuss Acquires Landfill Concession for $13.5 millionWednesday, July 20, 2011 The Colombian group Ethuss has acquired the concession for the Patacón Hill Landfill in Panama. Companies Urbalia SA and Capital Bank agreed to the sale of 100% of its shares after two months of negotiations with the transaction being supported by the National Cleaning Authority (ANA by its initials in Spanish). Alliance to Capture Remittances to El SalvadorWednesday, February 22, 2012 Fedecrédito joins Wells Fargo in order to capture a greater market share of remittances between the U.S. and the Central American nation. "We believe that our Salvadoran population living abroad, will appreciate having adequate access to services, enabling them to send money home quickly and safely, with a network of branches with a presence nationwide", said Macario Armando Rosales Rosa , president of Fedecrédito. Financing Being Studied for Refinery in Costa RicaTuesday, June 14, 2011 The Costa Rican Petroleum Refinery has begun to study funding models with representatives of Chinese companies. Soresco, in a joint venture with Recope and China's CNPC oil, has almost completed the project’s feasibility studies. Sale of Stanford Panama Is Now OfficialFriday, February 12, 2010 The sale of the bank to Strategic Investors Group (SIG) has become a reality, after complying with international and domestic requirements. U.S. judge David Godbey authorized custodian Ralph Janvey to proceed with the sale. Panama: 5 New Banks Authorized to OperateWednesday, June 30, 2010 In the first half of the year the Banking Superintendence (SBP) has authorized 5 banking institutions to operate in the country. These are “Banca Privada D’Andorra S.A.”, “Banco Prival, S. A.”, “Banco Lafise Panamá, S. A.”, “Banco Internacional de Perú, S. A.” and “Banco La Hipotecaria, S. A.”. Honduras: Wind Project to Deliver a Guarantee of $4.5 MillionWednesday, April 29, 2009 Mesoamérica Energy will deliver a guarantee of compliance to the government for the development of the Cerro Ula wind farm project. The guarantee would support the implementation of the first phase, which contemplates the generation of 60 MW of energy. José Morán, manager of Mesoamérica Honduras, said, "This shows that we are working and that we are going at a good speed according to what the contract with the National Electric Power Company calls for." |
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