$25 Million for G&T Continental Bank

©image: G&T Continental

The objective of the International Finance Corporation is to support local banks in promoting trade within their respective countries.

The manager of the international area of G&T Continental Bank, Sergio Bocanegra, told Siglo XXI: "The amount could rise to $50 million within 6 months. The main goal is to expand access to financing to exporters and importers of agricultural products, consumer goods and construction equipment and machinery, whose target markets are the United States, Europe and Asia."

Source: sigloxxi.com

More on this topic

IDB Loans $70 Million to Banco G&T Continental

January 2010

The loan to the Guatemalan bank aims to finance import and export operations.

Within the Trade Finance Facilitation Program (TFFP), the Inter-American Development Bank (IDB) granted Guatemalan Bank G&T Continental $70 million.

Flavio Montenegro, G&T CEO, remarked: "This transaction strengthens our trade operations and supports the economy of Guatemala, as it increases the funding available for our nation's industries".

G&T Continental Expands in El Salvador

December 2009

By opening its 11th branch, Grupo Financiero G&T Continental now features 600 locations in Central America.

The new Salvadoran branch is located at Shopping Mall Aventura Plaza, and will offer services in financing, investment, treasury, commerce, cash management and corporate and individual advising.

G&T Continental Bank expands in Central America

September 2008

G&T Continental Bank's projections for next year are to conquer the financial markets of Costa Rica and Panama and to strengthen their position in El Salvador.

Flavio Montenegro, Director and President of G&T Continental, said that their main operation is in Guatemala, where the companies was born some 45 years ago, and to date they have more than 380 points of service.

G&T Continental Bank of Guatemala will issue preferred shares

June 2008

On Tuesday Guatemala's Monetary Committee was advised of the request of G&T Continental Bank to issue a series of preferred shares for 70 million dollars at a fixed interest rate.

G&T is the second financial group within the past year to use this type of instrument to increase its paid capital. Last September the Banco de los Trabajadores (Workers' Bank) issued 20 million dollars' worth of preferred shares.