Banco G&T Continental
in Central America
Monday, January 23, 2012
The Rural Development Bank plans to open 21 branches in Honduras, investing $40 million.
Guatemalan banks are expanding into Central America. This time it is the Banrural, which has plans to open 21 branches in Honduras after obtaining permission from the authorities.
Friday, December 16, 2011
G & T Continental has acquired, at $64 million, Citibank de Guatemala’s housing portfolio.
Flavio Montenegro, general manager of G & T Continental, said the payment was in cash and Citibank de Guatemala has already handed over the records of the respective accounts.
For its part, Crista Kepfer, public relations officer of Citibank, told Prensalibre.com,"The decision was made to sell the FHA mortgage portfolio as part of Citi's strategy of focusing on a global scale in other banking segments and using those resources to invest in other lines of business. "
Wednesday, September 28, 2011
The banks have announced an agreement to provide a remittance service known as ExpressSend.
The new service will allow Guatemalans based in the U.S. to directly deposit money into savings accounts in Guatemala using any of the six thousand Wells Fargo service points.
Wednesday, July 27, 2011
In recent years, electronic transfers have been growing at a rapid pace.
Bank managers agree that the use of electronic banking operations reduces transaction costs, being this the main reason for its growth.
Luis Lara, manager of the Banco Industrial (BI) told Prensalibre.com that the institution expects amount of electronic transactions made by the end of 2011 to exceed those of 2010 when they totaled $1,377 million.
Thursday, July 14, 2011
In an attempt to attract more customers banks are diversifying their product portfolios.
One example is the Agromercantil Bank (Bam) who will soon launch a product called 'Hazlo sencillo' (Make it Simple), which will be accessible to the institution's debit card users.
Friday, June 17, 2011
As part of its expansion plan, the bank will invest in the construction of five new branches.
The recent opening of branch number 21 on the Gran Via is part of the plan.
Thursday, April 14, 2011
In Guatemala, 10% of banking operations are currently handled by banking agents.
Fernando Quiñónez interviewed Herbert Hernández from G&T Continental for Siglo21.com.gt on the importance of banking agents to the Guatemalan economy, which have handled transactions worth more than $700 million since their inception in 2003.
Monday, January 10, 2011
During 2010 the 'off shore' banks reported a 17.4% decline in their loan portfolio.
In November 2010, according to information from Banco de Guatemala, the loan portfolio was $ 1,450 million, 17.4% lower than the $ 1,751 million reported at year-end in 2009.
Flavio Montenegro, general manager of G&T Continental Bank, told Elperiodico.com.gt, "There are two factors which explain the behavior of off shore banks over the past year. The first relates to the exchange rate variation which reduces Dollar amounts after conversion to Quetzales ... The second factor was that during 2010 there was an excess in Dollar liquidity due to slower economic growth".
Tuesday, October 5, 2010
In the last ten years the number of banks operating in the country fell by 52.6%.
According to information from the Superintendency of Banks (SIB), in 1999 there were 38 banks operating in the country, dropping to 18 in 2010. In contrast, sector earnings rose 1736.7%.
Bankers and financial analysts agree today that the financial system is stronger.
Friday, October 1, 2010
The Guatemalan financial group plans to open 27 new branches next year in El Salvador.
Flavio Montenegro, General Manager, told Prensa Libre the group already has 23 branches, with the new openings it will consolidate presence in Salvadoran market.
Wednesday, September 29, 2010
Four banks compete with a wide range of small credits under $20 thousand Dollars.
Industrial Bank (BI), Rural Development (Banrural), G & T Continental and Bantrab offer term, conditions and personalized service in order to fill this market niche.
Sigloxxi.com writes "The president of the Central American Microfinance Network (Redcamif), Reynold Walter, said that loans of this type represent 70% in rural areas, while in metropolitan areas account for 30%. Out of the total, two-thirds are managed by women. "
Wednesday, April 21, 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.
Monday, January 25, 2010
The loan to the Guatemalan bank aims to finance import and export operations.
Within the Trade Finance Facilitation Program (TFFP), the Inter-American Development Bank (IDB) granted Guatemalan Bank G&T Continental $70 million.
Monday, January 18, 2010
The number of basic banking services offered by local, small stores increased 27.6% when compared to 2008.
Currently there are 1.915 agencies offering basic transactions like cashing small checks and paying public services.
"In Guatemala, two banks have implemented this business model: G&T Continental and Industrial (BI)", reported Prensalibre.com. "In 2010, G&T expects to grow 30% in this segment, and BI 25%".
Monday, January 4, 2010
Between January and November 2009, banks increased their assets in $1.18 billion.
According to data provided by the banking superintendence, the 5 largest banks account for 79% of the total.
"Banco Industrial tops the list of largest banks, followed by G&T Continental, Banrural, Banco Agromercantil and Banco Reformador", reported Elperiodico.com.gt.
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