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.
With a planned investment of $40 million, Banrural plans to open between 19 and 21 bank branches in Honduras during the first half of 2012. I will be the third Guatemalan financial institution to launch foreign operations.
"Sergei Walter, assistant manager of Banrural, explained that they have been working on regional expansion plans since 2009, and Honduras was chosen as the first country to venture into because it has social and economic characteristics similar to those of Guatemala", reported the publication.
Source: elperiodico.com.gt
More on this topic
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.
December 2008
Banrural requested permission from the Florida Financial Regulation Office and the Federal Reserve to set up an office in Miami.
"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.
February 2009
Users continue to prefer traditional operations; bankers maintain that in a short time frame, this tendency will revert itself.
Sigloxxi.com publishes an article in its website: "Among the hundred of the most visited places on the internet, and in just half of the count, only three banks are placed: G&T Continental (46), Industrial (51) and Banrural (60).
July 2011
In recent years, electronic transfers have been growing at a rapid pace.
Bank managers agree that the use of electronic banking operations reduces transaction costs, being this the main reason for its growth.
Luis Lara, manager of the Banco Industrial (BI) told Prensalibre.com that the institution expects amount of electronic transactions made by the end of 2011 to exceed those of 2010 when they totaled $1,377 million.
español
1895
