Colombian Investment Boom in Central America

Central America has become a kind of "Promised Land" for large companies in Colombia, writes ElTiempo.com.

The latest example of large-scale landing in the economies of the isthmus is the recent $801 million purchase of the assets of the HSBC bank in Costa Rica, El Salvador and Honduras by Banco Davivienda.

"Also noteworthy was the purchase of the Agricultural Bank of El Salvador by Bancolombia and BAC Credomatic, which was sold to the Banco de Bogota. Similarly, the alliance between Avianca and the Salvadoran Taca," according to the website.

Source: Eltiempo.com

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Colombian Banking in Central America

June 2010

The offer to buy BAC-Credomatic made by Banco de Bogotá confirms that Colombia’s large financial groups are seeking to expand their borders.

An article in Portafolio.com.co remarks that BAC has so far not responded to the Colombians. The financial website also lists the international operations of Colombia’s financial institutions such as Colpatria, Davivienda and Bancolombia.