Banco G&T Continental
in Central America
Thursday, March 29, 2012
To date, about 8 banks in Guatemala, 4 in El Salvador and 3 in Honduras, Nicaragua and Costa Rica offer the service; there is still much ground to cover in the region.
The director of Technology at the company Ebclosión, Derick Brol, indicates that in Central America in 2011 there were mobile phone banking services in about 8 banks in Guatemala, 4 in El Salvador and 3 in Honduras, Nicaragua and Costa Rica. The services offered include balance inquiries, transactions between own accounts and blocks.
Friday, March 9, 2012
According to G & T Continental Bank, Guatemala’s exchange rate will range between 7.3 and 8.3 quetzals to the dollar during 2012.
The general manager of G & T Continental Bank, Federico Linares said that predictions for 2012 are that the exchange rate against the dollar will remain at Q7.8 + / - 0.5. As of Thursday The Bank of Guatemala (Banguat) maintained a rate of Q7.75 to the dollar.
Thursday, February 9, 2012
The bank is planning to grant loans this year worth $270 million.
Last year it approved $210 million worth of loans to productive sectors such as industry, trade, services, agriculture and construction, an increase of 49% compared to 2010, said the General Manager of the institution, Roberto Silva Alvarez.
Wednesday, February 8, 2012
The bank, notable for its A + rating awarded by Fitch Ratings, focuses on loans for the corporate sector and hopes to expand its credit portfolio thanks to the injection of funds.
The G & T Continental Bank, of Guatemalan capital, said that it is to receive a capital injection of about $10 million, which would increase its loan portfolio in El Salvador.
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.
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