Banking
in Central America
Wednesday, February 1, 2012
Improved grain prices encouraged banks to increase their loan portfolio for coffee production to about $56 million.
The bank approved $56 million for coffee planting in El Salvador between January and November 2011, 29.8% more than the same period in 2010 ($43.24 million), revealed the Superintendency of the Financial System (SSF).
Wednesday, February 1, 2012
Nicaragua's private banking sector reacted positively to the Superintendency of Banks’ decision to raise the minimum capital required by banks to more than $10.65 million.
Juan Carlos Arguello, president of the Association of Private Banks of Nicaragua (Asobanp), told the online edition of La Prensa, that actually private banks have a current coverage of 16% minimum share capital, 4% more than the required level of 12%.
Tuesday, January 31, 2012
The increased demand for bank credit from consumers and businesses plus the financing needs of the government, is putting pressure on the capital market and interest rates.
The competition for liquidity can be seen in the activity of the National Stock Exchange, where the amounts being released on the exchange are increasing because of the concurrence of the state banks - Banco de Costa Rica, Nacional and Popular, and of private banks like Scotiabank, and by other entities such as Grupo Mutual y la Compañía de Fuerza y Luz.
Monday, January 30, 2012
The Agricultural Development Bank (BFA) has opened a line of credit to help participation in the tenth edition of the Cup of Excellence.
The Agricultural Development Bank (BFA) is opening a line of credit for small farmers, a new feature for this year's tenth Cup of Excellence event, announced the Salvadoran Coffee Council (CSC in Spanish).
"Through this initiative, which will facilitate the entry of more participants, it is expected that at least 250 farms will submit samples, from 26th to March 30th," reports ElMundo.com.sv. "This line is to help small coffee producers to also be able to support the time required for the tournament," said Ana Elena Escalante, executive director of the CSC.
Monday, January 30, 2012
Direct investment by Colombian companies came to about $1 billion in 2010, a giant leap forward compared to the $27 million in 2004.
Central America has become a kind of "Promised Land" for large companies in Colombia, writes ElTiempo.com.
Thursday, January 26, 2012
A joint housing project between a bank and the Chamber of Construction will be carried out in Tegucigalpa, Honduras.
The president of the National Agricultural Development Bank (Banadesa), Johnny Handal, and vice president of the Honduran Chamber of Construction Industry (Chico), Oscar Calona signed off on a program for building popular housing.
Wednesday, January 25, 2012
Nicaraguan employers are complaining about the high interest rates charged on loans by the Banco de Fomento a la Producción (Bank for Development of Production).
Although the volume of credit to productive activities is generally larger, interest charges remain high: between 10 and 12%.
Wednesday, January 25, 2012
The Banco de Fomento Agropecuario BFA (Agricultural Development Bank) will be investing $35 million this year for loans for the cultivation of basic grains, with interest rates of between 4 and 8%.
The Agricultural Development Bank (BFA) will provide $35 million in loans this year for growing grains, and always with interest rates between 4 and 8%, the newspaper El Mundo reported in its online edition.
Wednesday, January 25, 2012
The approval of a trust agreement with Banco de Costa Rica will allow the Legislature to advance construction of its new facilities.
The referendum on the trust by the Controller General of the Republic has enabled construction of a new home for the Legislative Assembly and the restoration of existing buildings.
Wednesday, January 25, 2012
The Association of Banks of Guatemala has announced the availability of $2.5 billion for loans for production within an optimistic economic outlook.
In light of the private sector’s optimism created by the assumption of a new government and the expectation of more foreign investment, the AGB has said that there will be credit growth in 2012.
Tuesday, January 24, 2012
The Banco Davivienda, part of the Bolivar Group, has acquired the operations of HSBC in Costa Rica, El Salvador and Honduras.
HSBC Holdings announced on Tuesday the sale of its operations in Costa Rica, El Salvador and Honduras, for $801 million.
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, January 20, 2012
The Ministry of Economy of El Salvador has made available to employers a portfolio of funds to be disbursed during the year.
A press release from the Ministry of Economy of El Salvador reads:
Productive Development Fund (FONDEPRO) of the Ministry of Economy has made available to businesses, this January 20th , a portfolio of funds which are ready to be disbursed during the current year in order to improve competitiveness and create economic impact in El Salvador.
Wednesday, January 18, 2012
The banks reported profits of nearly $276 million in 201, which is 22.5% more than 2010.
Banco Popular tops the list with earnings totaling $76 million, followed by BAC San Jose with $54 million.
An article in Elfinancierocr.com states: "...
Wednesday, January 18, 2012
There are plans to invest in improving their branches' infrastructure and in modernizing technology platforms throughout 2012.
The institution’s plans are to increase local operations by about 10%, the new CEO of Citi Financial Group, Juan Miró, said.
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