Banco Agrícola El Salvador
in Central America
Wednesday, June 22, 2011
The line of credit will be designated to provide financial assistance to small and medium exporters.
The executive director of the Corporation of Exporters, Silvia Cuéllar, considered it a very good opportunity for SMEs, adding that it should enable favorable loan conditions.
Friday, June 10, 2011
Representatives from the electricity industry are arguing that investments of $1,000 million are needed for the tender to generate 350MW.
The international public tender launched in April for the provision of 350MW from July 2015 excludes the use of plants currently in operation, or to be operational by January 2012. The only offers that will be accepted are those from new plants whose operation is based on renewable energy sources, natural gas or coal.
Tuesday, March 29, 2011
The Salvadoran Bank entered into a strategic alliance with the Microfinance International Corporation (MFIC) to jointly serve the Salvadoran community in the U.S.
Banco Agrícola will pay out remittances sent through Arias, MFIC's money transfer solution, that are originated by US institutions and through Alante Financial, MFIC's wholly-owned retail financial service centers targeted at immigrants.
Monday, November 8, 2010
In the past ten years, online transactions have grown at a rapid pace.
Banks surveyed by website Elsalvador.com confirms the trend.
El Banco Agrícola currently serves about 150 thousand customers with their online banking service.
In case of Citibank, Consumer Product director, José Eduardo Luna, noted that 30% of transactions performed by individuals are done through online banking.
Friday, September 17, 2010
Demand for credit is not growing as expected, as there are fewer investments in the country.
According to Roberto Orellana Milla, CEO of Banco Agrícola, "demand for credit has dropped 4%".
Friday, June 26, 2009
With a credit from the BID, Banco Agricola will expand its loan program for micro, small, and medium sized businesses (MiPyMEs acronym in Spanish).
“The approval of the loan from the Inter-American Development Bank (BID acronym in Spanish) to Banco Agricola allows us to offer resources that are currently available to meet the needs of the credit market in El Salvador. And to continue supporting, especially, micro, small, and medium sized businesses, exactly as we have been doing in recent years,” said Juan Gonzalo Sierra, Financial Manager of Banco Agrícola.
Wednesday, June 24, 2009
Fitch changed its long term perspective rating from "stable" to "negative" for the banks Agricola, HSBC, and Scotiabank in El Salvador
The reason for this change is the current "negative" perspective for the sovereign rating for the Republic of El Salvador, which could affect the Issuer Default Rating for the long term for the three main banks in El Salvador in the case that the rating is reduced again in the country.
Monday, May 4, 2009
In March 2009, the banks from the financial system recorded profits of $22 million, compared to $34.9 million for the same period last year.
Of the banks, Agricultural Bank was the one that registered the highest profits.
José Luis Henríquez Elsalvador.com wrote: "It is anticipated that with the loans contracted by the Government with multilateral organizations and the release of contingency reserves that the SSF forced banks to establish, interest rates will begin to go down gradually. Financial statements from newspapers also indicate that banks had a loan portfolio of $8.697 billion, lower than the $8.895 billion recorded by the Superintendent in March 2008."
Monday, April 20, 2009
Multibank has become the third bank to join the Panamanian Facilitation of Foreign Trade Financing Program (TFFP).
Through TFFP, the IDB offers guarantees to cover letters of credit, promissory notes, bid bonds, performance bonds, advance payment bonds and other instruments used in International Trade transactions.
Wednesday, April 15, 2009
Fitch Ratings reported that the risks to regional banks during the current crisis are growing and represent a major challenge for 2009.
The combination of reduced credit expansion, fund restrictions and increasing loan provisions have limited the profits of most banks and it is expected for these factors to continue to pressure the results in the coming months.
Wednesday, April 15, 2009
Fitch Ratings reported that the risks to regional banks during the current crisis are growing and represent a major challenge for 2009.
The combination of reduced credit expansion, fund restrictions and increasing loan provisions have limited the profits of most banks and it is expected for these factors to continue to pressure the results in the coming months.
Thursday, March 26, 2009
The financial group Bancolombia would come to Guatemala with the signing of the Free Trade Agreement between both countries.
Prensa Libre reported that the Colombian ambassador in Guatemala, Eduardo Lopez Sabogal indicated that the Bancolombia Group has been negotiating with domestic private banks, looking for a strategic alliance, similar to the one developed in El Salvador, with the purchase of the Banco Agrícola.
Friday, March 13, 2009
In 2008, banking generated $128.3 million in earnings, $19.7 million less than the $148 million generated in 2007.
The statistics reported by the Salvadoran Banking Association indicated that the Industrial Bank was the one that had the most earnings last year, but it suffered a drop of $10 million in profits.
Monday, November 24, 2008
AES clients can now pay their electricity bills using automatic charge to their cards and accounts at the financial institution.
For Ernesto Magaña, manager of cards at the Agricultural Bank, the services provides many benefits to customers, since the automatic charge does not carry any additional charges and at the same time they accumulate Megamiles when the pay with their credit cards and ChequeMax cards.
Thursday, November 13, 2008
Some banks already published the adjustment and others announce that the increase in the credit rates will occur shortly, although they did not say exactly when.
Scotiabank has raised the interest rates between 0.25 and 2 percent for loans.
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