HSBC Holdings announced on Tuesday the sale of its operations in Costa Rica, El Salvador and Honduras, for $801 million.
Up until September 30th HSBC had 136 branches in the three Central American countries, handling $4.3 billion in assets and $2.5 billion in loans.
HSBC, which is finishing operations in Latin America as announced in May 2011, had not yet found a buyer for its operations in the region, which for this purpose are separated into South America on one side, and Central America on the other.
"Last year, during the bond issue that allowed them (Banco Davivienda) to raise 500 billion pesos, the president of the organization, Efrain Forero, said the expansion plan is targeting Central and South America", according to an article in Semana.com.
The transaction is subject to approval by the respective supervisory authorities and is expected to be completed in the fourth quarter of 2012.
español
1876
