Banesco looking to expand

©image: Jorge Andrés Paparoni Bruzual

According to Alberto De Armas, executive president of the Venezuelan bank, they would offer banking services in both countries to meet the needs of consumers in those markets.
The business strategy of the bank includes expanding to the rest of the Central American region, he added.

Source: pa-digital.com.pa

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Venezuela's Banesco to set up regional headquarters in Panama

May 2008

Venezuelan bank Banesco is setting up a regional headquarters in Panama next year for an expansion project in Central America and the Caribbean.

Costa Rica, Guatemala and the Dominican Republic are the first countries that Banesco executives have set their sights on. Ricardo Ayala, chairman of the bank's board, emphasized that Banesco would finance the expansion from its own resources.

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From yesterday’s official government newspaper:

“BANESCO is authorized to open a branch in Dominican Republic.

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Increased controls on lending to sectors such as construction and a reduction in branch openings are some of the measures.

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