65% of Guatemalan Deposits in Just Three Banks

©image: Colin

The figure corresponds to February 2010. According to the Banking Superintendence, in the same month of 2009 these banks had 64% of the deposits, out of a total 18 banking institutions in Guatemala.

Superintendent Edgar Barquín told Prensalibre.com: “We know that 5 banks concentrate 80% of the deposits. This is because of their size, structure and geographic coverage”.

Source: prensalibre.com

More on this topic

Guatemala people's banks seek cross-border business

May 2008

Guatemala's "people's banks", that lend to the likes of small shopkeepers, aim to take their business model to the rest of Central America.

G&T Continental and Banco Industrial (BI) run mini-branches where low-income customers can cash cheques, open savings accounts and pay public-service bills.

Guatemala’s Banrural to Operate in Honduras

January 2012

The Rural Development Bank plans to open 21 branches in Honduras, investing $40 million.

Guatemalan banks are expanding into Central America. This time it is the Banrural, which has plans to open 21 branches in Honduras after obtaining permission from the authorities.

"The two largest banks in Guatemala have crossed the border and are competing for the Central American financial market, setting up operations in El Salvador, Honduras, Costa Rica and Panama; now they are being joined by the Rural Development Bank (Banrural) which has decided to enter Honduras and in the long term is also interested in expanding into El Salvador", reports ElPeriodico.com.

Banrural Bank (Guatemala) to open office in Miami

December 2008

Banrural requested permission from the Florida Financial Regulation Office and the Federal Reserve to set up an office in Miami.

"If the request is granted, Banrural will become the second bank from CA to have an office in the US," said Friedhoff, a partner at the Fowler White Burnett P.A. law firm in Miami.

Little Use of On-Line Banking in Guatemala

February 2009

Users continue to prefer traditional operations; bankers maintain that in a short time frame, this tendency will revert itself.

Sigloxxi.com publishes an article in its website: "Among the hundred of the most visited places on the internet, and in just half of the count, only three banks are placed: G&T Continental (46), Industrial (51) and Banrural (60).