Camilo Atala, Grupo Ficohsa’s chairman, said the headquarters in Panama will serve as a platform to expand into the rest of the Central American market.
An article in Laprensa.hn contains statements by the executive, "Ficohsa will operate with international license in Panama,. We have very good commercial relations with our Panamanian colleagues, in fact have agreements in Central America, and particularly in Honduras, and also the support of several Panamanian banks with whom we do business constantly. "
Source: laprensahn.com
More on this topic
June 2008
Driven by fierce competition, public and private banks are carrying out aggressive expansion plans this year.
Seven banks and the Mutual Group have announced that they will open at least 84 branch offices or agencies.
The most ambitious plans are those of the Banco de Costa Rica and Banco Popular, each of which is planning to end the year with 20 new branches.
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.
January 2011
The Rural Development Bank of Guatemala initiated an expansion process through Central America.
During its annual meeting it announced that they have started the admission process in the corresponding bodies of two Central American countries. Due to procedural reasons, they did not specify which.
March 2012
The Panamanian bank is continuing its expansion plans in Central and South America.
Multibank, an entity founded on Panamanian capital, intends to consolidate and expand its share of the banking sector in Colombia and Central America, where it has already acquired full control of Macrofinanciera SA (Colombia) and the incorporation of the company Multi Resuelve (Costa Rica), focused on financing the purchase of cars.
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