As outlined in an article in Elperiodico.com.gt, Banco Industrial El Salvador will absorb the existing operations of the representative office of Banco Industrial Guatemala, which is already operating business loan services in El Salvador.
"With the opening of BI El Salvador, the Bicapital Corp group will have a presence in the northern triangle of Central America (Guatemala, Honduras and El Salvador) who between them have strong trade ties and account for 64 percent of the Central American economy."
Luis Prado, manager of International Department of Banco Industrial said, "This strong presence in the northern triangle of the Isthmus (they operate the largest bank in Guatemala and the fifth largest in Honduras) will allow for a comprehensive regional service to customers, which is part of the new features to be launched soon. "
Source: elperiodico.com.gt
More on this topic
July 2011
With three agencies in San Salvador, Banco Industrial will begin operations.
Alicia Maria Mayorga, president of the institution in El Salvador said they already have planned an expansion for next year with the opening of new agencies and more products and services.
"Juan Miguel Torrebiarte, president of the BI corporation, said that the arrival in El Salvador is a major event for the financial group, because through this new bank they will consolidate their presence in the Central American Northern Triangle (Guatemala, El Salvador and Honduras ) as well as allowing them to offer their present and potential customers greater regional coverage and services to facilitate trade", reported Elperiodico.com.gt
December 2008
Industrial Bank got the "ok" to enter the Salvadoran market, where it will have a big market of customers.
The inauguration of the first agency will occur during the first semester of 2009, the company's general director, Diego Pulido, said to estrategiaynegocios.net.
El Salvador will be the third country outside Guatemala where the bank has set up operations; in 2008 they opened in Honduras, where they acquired the operations of the Banco del Pais bank.
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