HSBC to Invest $7 Million in Panama

The investment responds to a change in the branch infrastructure with greater movement in the country.

Thursday, July 29, 2010


©image: HSBC

The head of HSBC Panama announced the investment, adding that, "it is work in progress. What we are seeking is to enable customers to get access to all the bank's services," reports Prensa.com.

The process includes an image change, fitment of more ATMs and improvements to the services available online via Internet banking.

Currently the bank possesses 55 branches in Panama.

More on this topic

BAC Invests $4.2 Million in Panama

April 2010

Within its national expansion process, the banking entity opened 8 new branches.

CEO Jaime Moreno explained they based their decision in the expectative that Panama will continue growing as a center for international financial transactions.

“We had to change the institution to reflect the market’s current demand”, he told newspaper Panamá América.

Aid proposed for Panama banks

January 2009

The Panama Bank Association (ABP) recommended that the Government start, as soon as possible, a program to reactivate the economy via the banks.

Prensa.com reports: "This means that the State can drive the economy via local banks by granting loans to sectors that will generate employment and wealth for the country," said the new president of the ABP, Moises Cohen, in his inauguration speech.

G&T Continental to Invest $15 million in El Salvador

June 2011

As part of its expansion plan, the bank will invest in the construction of five new branches.

The recent opening of branch number 21 on the Gran Via is part of the plan.

General manager Roberto Silva informed the media that another branch in the downtown area of San Salvador is also scheduled to be opened.

Guatemala has too many banks, too many bank failures

July 2008

Guatemala's banks are born and die more fequently that is desirable for a solid, stable and reliable banking system, says Carlos Mendoza.

Writing in The Black Box, a blog focusing on the Guatemala economy, Mendoza says Guatemala has too many banks, and too many of them fail.


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