Guatemala people's banks seek cross-border business

©image: Rudy Girón

G&T Continental and Banco Industrial (BI) run mini-branches where low-income customers can cash cheques, open savings accounts and pay public-service bills.
Boosted by their success, each of the banks is aiming to reach 2,000 branches by the end of the year, some of them in Honduras, Nicaragua and El Salvador.

Source: prensalibre.com

More on this topic

65% of Guatemalan Deposits in Just Three Banks

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.

G&T Continental Expands in El Salvador

December 2009

By opening its 11th branch, Grupo Financiero G&T Continental now features 600 locations in Central America.

The new Salvadoran branch is located at Shopping Mall Aventura Plaza, and will offer services in financing, investment, treasury, commerce, cash management and corporate and individual advising.

IFC invests $ 10 million in Seguros G&T

January 2011

The International Finance Corporation (IFC) will acquire up to 15% of the assets of the Guatemalan insurer.

The capital will be used to develop a model of "Bancassurance", which will market the insurance products through the network of branches owned by Banco G&T Continental, a sister company of the insurer.

Interest Rates in Guatemala

March 2011

Business loans of more than $ 640.000 pay between 8% and 12.5%.

Business loans of less than $ 640,000 pay considerably more, between 11.3% and 34.4%.

The information comes from the monthly report generated by the Bank Superintendence of Guatemala, which for the first time includes interest rate information filtered by credit portfolio, economic activity, type of credit and rank.