Flavio Montenegro, general manager of G & T Continental, said the payment was in cash and Citibank de Guatemala has already handed over the records of the respective accounts.
For its part, Crista Kepfer, public relations officer of Citibank, told Prensalibre.com,"The decision was made to sell the FHA mortgage portfolio as part of Citi's strategy of focusing on a global scale in other banking segments and using those resources to invest in other lines of business. "
Source: prensalibre.com
More on this topic
July 2011
Panamanian based Banco General has acquired the residential mortgage loan portfolio from Citibank Costa Rica.
As explained by Banco General, the transaction, the amount of which was not disclosed, includes a portfolio of more than 1,000 clients, while Citi explained that the sale meets its goal of refocusing its business to corporate and consumer customers.
March 2011
Despite contraction in the construction sector, banks and other lenders are increasing their offers.
The bank´s credit portfolio is the largest offered over the last three years as reported by the Costa Rican Banking Association.
"In Expoconstrucción, which begins next Sunday at Pedregal (San Antonio de Belén), banks will try to hook new customers with fixed rate programs, remission of fees and payment terms of up to 30 years" informed Nacion.com, “Nine financial institutions will be present at the fair ...".
February 2011
Loans to the construction sector in 2010 reported a 0.4% drop compared to 2009.
At the end of 2009 the banking sector loaned $ 816 million while in 2010 the figure was $ 813 million.
Likewise, defaults on housing loans increased by 1.4%.
"This was the only sector which reported a drop in the loan portfolio, which, in general, went up 5.6%," reported Sigloxxi.com.
October 2008
The Overseas Private Investment Corporation announced a $45 million loan to Banco Lafise Costa Rica, and a $60 million loan to Banco BAC San Jose.
The first project involves a total of $45 million in loans to Banco Lafise Costa Rica, a member of the regional financial institution Lafise Group, to enable it to expand its portfolio of low- and middle-income residential mortgages.
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