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New bank to begin operations in El Salvador

The Industrial Bank of El Salvador is completing the procedures at the Financial System Superintendence to formally become a bank.

Friday, September 19, 2008

©image: Banco Industrial

According to the Superintendence, shareholders will hold 1% or more of the social capital of said company which is being created and includes: Banco Industrial S.A. (from Guatemala), Construagro S.A. (from El Salvador), y José Luis Zablah Touché (from El Salvador).

Source: elsalvador.com

Key entities

Banco Industrial - BI Capital Corporation Construagro S.A José Luis Zablah Touché Banco Industrial El Salvador

Insight

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Guatemalan Banks Expand in Central America

November 2009

Both "Banco Industrial" and G&T Continental are moving forward with their expansion plans in Central America.

Banco Industrial will open an office in El Salvador in May 2010, while G&T Continental plans to enter the Costa Rican market in the medium term. G&T already operates in Panama and El Salvador.

Ecuadoran Banks sets up shop in Panama

September 2008

The Superintendence of Bank is processing the request for a General License from the Bolivarian Bank (Panama), a company that was organized and registered under Ecuadoran laws.

This will be the third Ecuadoran bank to enter the market in the last three years with a general license.

Industrial Bank Starts Operations in El Salvador

July 2011

With three agencies in San Salvador, Banco Industrial will begin operations.

Alicia Maria Mayorga, president of the institution in El Salvador said they already have planned an expansion for next year with the opening of new agencies and more products and services.

"Juan Miguel Torrebiarte, president of the BI corporation, said that the arrival in El Salvador is a major event for the financial group, because through this new bank they will consolidate their presence in the Central American Northern Triangle (Guatemala, El Salvador and Honduras ) as well as allowing them to offer their present and potential customers greater regional coverage and services to facilitate trade", reported Elperiodico.com.gt

Azteca Bank Next to Start Operations in El Salvador

May 2009

The process is in the final stage. Once the required technical aspects have been approved, the permits to operate would be granted.

Luis Armando Montenegro, Superintendent of the Financial System (SSF), reported that the Board of Directors of the Superintendent will receive the case no later than June 10 for its approval.

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