Apart from the failure of the macro project, some synergies have been achieved. Between the National Bank and Bank of Costa Rica (BCR) there is an agreement that clients can change checks and make deposits and both share the use of ATMs.
Between the BCR and Bancrédito customers are also allowed to make withdrawals from savings accounts.
"The plan for synergy includes the creation of a company to provide technological services to the National Bank and BCR jointly. This year, technicians from both entities have even worked together to develop a tender. If they had managed to succeed there would be an option of integrated banking services across branches and platforms. However, the plan was dismissed by mutual agreement, as it could not be shown to generate significant financial benefits ", reported Elfinancierocr.com.
Source: elfinancierocr.com
More on this topic
April 2011
The challenge seeks to reverse authorization given for the US company Cargill to take over Pipasa.
Nicaragua's institute for protecting consumer rights presented the challenge, arguing that if the merger goes ahead, the resulting company will control 61% of the Nicaraguan poultry market, enabling it to undercut its competitors and force them out of the market, after which nothing would stop it from increasing prices at will.
November 2011
Grupo Financiero Ficohsa has signed an agreement to acquire 90% of the shares of Banco Americano SA, a bank that has been operating in the Guatemalan financial system since 1995.
A press release from Grupo Financiero Ficohsa states:
The formalization of the transaction is subject to approval by the Guatemalan Superintendency of Banks in accordance with the Regulations for the acquisition of shares approved by the Monetary Board.
November 2010
The Colombian chain acquired 100% of shares of Corporation Megasuper of Costa Rica.
Olympic SA is the third ranking supermarket chain in Colombia with regards to sales.
According to a statement to La Prensa Libre, Walter Vega, commercial vice president of Megasuper, stated "...
November 2009
Harsco, a multinational company offering services for industrial companies, bought the regional company Esco.
The acquisition is in line with Harsco's expansion strategy in South America and the Caribbean.
"ESCO will be merged into Harsco Latin America", reports Sergio Morales for elfinancierocr.com. Tomás Dueñas, president and owner of Esco assured that "current infrastructure and staff will be maintained".
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