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Banco G&T Continental
Who would have thought that a pharmacy, a hardware store, a book store, or any other business would one day offer many of the financial services that have been exclusive to banks for decades?
"I never imagined it, but now I am happy because, not only will it help a lot of people, but it will also help my business to get more clients; I'm happy." This is the way Irma Medrano, the owner of J&M Bookstore, described her new role as a banker. Medrano has her business in Jalpatagua, Jutiapa. Her bookstore has been converted to a branch of the G&T Continental Bank and offers a variety of services such as reception of payments (telephone, water, and electricity), remittances and checks, as well as deposits.
Source: elperiodico.com.gt
More on this topic
January 2010
The number of basic banking services offered by local, small stores increased 27.6% when compared to 2008.
Currently there are 1.915 agencies offering basic transactions like cashing small checks and paying public services.
"In Guatemala, two banks have implemented this business model: G&T Continental and Industrial (BI)", reported Prensalibre.com. "In 2010, G&T expects to grow 30% in this segment, and BI 25%".
April 2011
In Guatemala, 10% of banking operations are currently handled by banking agents.
Fernando Quiñónez interviewed Herbert Hernández from G&T Continental for Siglo21.com.gt on the importance of banking agents to the Guatemalan economy, which have handled transactions worth more than $700 million since their inception in 2003.
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.
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.
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