Colombian Banking in Central America

©image: Edgar Jiménez

An article in Portafolio.com.co remarks that BAC has so far not responded to the Colombians. The financial website also lists the international operations of Colombia’s financial institutions such as Colpatria, Davivienda and Bancolombia.

The article lists Colombia’s financial operations in Central America, which includes Davivienda in Panama and Costa Rica, in addition to Seguros Suramericana in Panama and Bancolombia in El Salvador, through Banco Agrícola.

Source: Portafolio.co

More on this topic

Colombian Investment Boom in Central America

January 2012

Direct investment by Colombian companies came to about $1 billion in 2010, a giant leap forward compared to the $27 million in 2004.

Central America has become a kind of "Promised Land" for large companies in Colombia, writes ElTiempo.com.

The latest example of large-scale landing in the economies of the isthmus is the recent $801 million purchase of the assets of the HSBC bank in Costa Rica, El Salvador and Honduras by Banco Davivienda.

Regional Banks Optimistic about Arrival of Aval Group

July 2010

The leading Central American banks believe that the presence of the Colombian financial holding group will bring greater dynamism to the market.

Nacion.com reports that most bankers drew attention to the group’s size and its success in Colombia.

Armando Arias, president of the Salvadoran banking association (ABANSA), commented that, “the arrival of such a large group is good news for Central America.

The New Owners of BAC-Credomatic

July 2010

Luis Carlos Sarmiento Angulo, one of the richest men on earth, is the owner of Grupo Aval, which controls some of the largest banks in Colombia.

Grupo Aval agreed to purchase 100% of the shares of BAC-Credomatic from GE Capital for $1.9 billion. Currently, GE owns 75% of BAC-Credomatic and agreed to buy the remaining 25% to sell it to Grupo Aval.

Banco de Bogotá Interested in BAC-Credomatic

June 2010

The Colombian Bank has made an offer to purchase 100% of BAC-Credomatic’s shares.

The value of the offer was kept private, but it was known that it expires on the afternoon of June 10.

“After being authorized by the board of ‘Banco de Bogotá’, its president instructed one of its subsidiaries to make an offer for 100% of the shares of BAC-Credomatic Central America”, said a source from the Colombian Financial Superintendence to Terra.com.