Banex to Resume Operations in Nicaragua as Microfinance Bank

©image: Banex Banco del Exito

Benjamín Vides, Chairman of the bank’s board of directors, indicated that the return of customers’ deposits forms part of this process since, according to Guatemalan legislation, a lending institution cannot hold deposits.

The Chairman goes on to say that, “the idea is that Banex goes back to doing what it used to, when it was called FINDESA,” reports Capitales.com.

Source: Capitales.com

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Alfredo Alaniz, ASOMIF's executive director, commented that in meetings held with Nicaragua's banking regulator and central bank authorities those present agreed on the need for the institution to continue its operations whether as a bank or as a finance company.

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