Representatives from local banks, in the face of entry of a new competitor, agreed that this will stimulate the segment of medium-sized banks.
Strengths of the new institution are reported to be their knowledge of the Latin American market and experience in micro and small enterprises.
In the opinion of Carlos Fernandez, manager of Bansol, "the bank is very focused on the regions, so much so that they have decentralized business in Venezuela and they may do the same here"
According to Federico Chavarria, assistant manager at Promérica, the needs arising from commercial activity will open the way for banking entities to make the decision to expand", reported Nacion.com
Source: Nacion.com
More on this topic
February 2011
In 2010, nine new banks entered the banking sector in Panama.
Of these, four are local private banks, three have international license and two are foreign banking entities.
The new operations launched are Banco Lafise Panama (March 10), Bank of Nova Soctia (Panama) SA (Oct 10) Prival Bank (March 10), Balboa Bank & Trust Corp (May 10) Banco La Hipotecaria (June-October), Uni Baak & Trust Inc.
November 2009
The bank plans to expand its presence to 39 branches, from the 29 offices it currently operates in El Salvador.
The announcement was made by Luis Niño de Rivera, president of the board, who remarked that the bank has so far created 445 jobs and will employ 100 more people next year.
October 2010
Financiera Acobo is to obtain a banking license and become Banco de las Soluciones (Bansol).
The authorization was granted by the National Financial System Supervision (CONASSIF), making Bansol the tenth commercial bank operating in Costa Rica.
Alberto Dent, president of CONASSIF, told Elfinanacierocr.com, "...now we just need for the Superintendent of Financial Institutions (Sugef) to issue a certificate to the effect that the new entity meets all requirements and regulations (including minimum capital) so they can begin to operate as a bank."
November 2010
On the first of November Bansol became the 17th bank in the country.
The new bank will operate almost 100% electronically.
Few branches, small and without ATMs, were the words of its CEO Carlos Fernandez.
"The accounts opened will be linked automatically to the Integrated Electronic Payment System (IPNS) in order to facilitate the process of transferring to any destination within the domestic financial system," writes Elfinancierocr.com.
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