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BANRURAL
"If the request is granted, Banrural will become the second bank from CA to have an office in the US," said Friedhoff, a partner at the Fowler White Burnett P.A. law firm in Miami.
According to the lawyer, the Guatemalan bank has taken this step in order to provide direct services to Guatemalans residing in the US, including remittances, and the export and import business, now that Guatemala forms a part of CAFTA.
Banrural Bank, the third biggest financial institution in Guatemala, has successfully focused its services towards those sectors with few resources, including the rural and agricultural sectors.
Source: elnuevoherald.com
More on this topic
January 2012
The Rural Development Bank plans to open 21 branches in Honduras, investing $40 million.
Guatemalan banks are expanding into Central America. This time it is the Banrural, which has plans to open 21 branches in Honduras after obtaining permission from the authorities.
"The two largest banks in Guatemala have crossed the border and are competing for the Central American financial market, setting up operations in El Salvador, Honduras, Costa Rica and Panama; now they are being joined by the Rural Development Bank (Banrural) which has decided to enter Honduras and in the long term is also interested in expanding into El Salvador", reports ElPeriodico.com.
April 2010
From all the resources deposited in the Guatemalan banking system, 65.3% is concentrated in banks Industrial, G&T Continental and Banrural.
The figure corresponds to February 2010. According to the Banking Superintendence, in the same month of 2009 these banks had 64% of the deposits, out of a total 18 banking institutions in Guatemala.
September 2011
The Rural Development Bank (Banrural) and the off shore bank Mercom Bank Ltd., will fund luxury tourism projects on the Honduran coast.
Banrural will participate in the financing of the project's Los Micos Beach in Bahía de Tela and Mercom Bank Ltd of the financial group Agromercantil, will fund the project ‘Pristine Bay Resort, Golf & Spa’ on the island of Roatan, Honduras.
January 2009
The banking sector requested that the term for the temporary measure of providing liquidity in US dollars via repo transactions be extended.
Sigloxxi.com reports that "Jose Angel Lopez Camposeco, president of the Banking Association of Guatemala (ABG) and the Rural Development Bank (Banrural), commented that the measure worked, "because it is an instrument which gave signals that in case of any need for or suspension of credit, we have resources available."
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