Currently there are 1.915 agencies offering basic transactions like cashing small checks and paying public services.
"In Guatemala, two banks have implemented this business model: G&T Continental and Industrial (BI)", reported Prensalibre.com. "In 2010, G&T expects to grow 30% in this segment, and BI 25%".
Source: prensalibre.com
More on this topic
September 2008
Banks in Guatemala are expanding by installing branches in small businesses to offer financial services.
Who would have thought that a pharmacy, a hardware store, a book store, or any other business would one day offer many of the financial services that have been exclusive to banks for decades?
December 2011
Economy and Development Report by CAF - Development Bank in Latin America -entitled Financial Services for development: promoting access in Latin America.
From the introduction of the first chapter of the report:
Access to financial services - Development and Welfare
Why could access to financial services be an important factor for economic development and welfare in Latin America? A first important aspect is that financial institutions have the mission to attract domestic savings, and possibly also those from external sources, to finance both working capital (liquidity needs) such as business investment (physical capital). Meanwhile, families also require credit to finance investment or expenditure needs (e.g. children's education or purchase of durable goods), whose timing may not coincide with the availability of current income or savings.
May 2011
The bank aims to improve the efficiency of its services and reduce lines in its branches by extending its payment network, among other measures.
In addition to using debit cards to pay for public and private services in various stores, including supermarkets, customers of BNCR now have the ability to withdraw cash (cashback) in those outlets.
November 2008
The bank is planning for next year to have its own insurance agency, with 136 branches and to create 1000 small operations points in stores and businesses.
Having its own insurance agency is the next goal of the Workers Bank (Bantrab), which together with its new image and purchase of the assets of the Bank of the Republic, may, based on plans, position the bank as one of the top 5 banks in the next 2 years.
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