Banks
in Central America
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.
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.
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
Guatemala banks earned $387 million in 2011, up 17.6% from $329 million in 2010.
Victor Mancilla, Superintendent of Banks, said that besides the increase in profits, the default rate fell to 1.6%.
"Meanwhile, the return on assets (ROA), which is what banks earn for each Q100 invested, rose from 1.6% in 2010 to 1.7% in 2011, meaning that for every Q100 the bank received Q1.60 and Q1.70, respectively.
Tuesday, January 17, 2012
In the past four years credit card issuance has reduced by 42.4%.
Credit restrictions applied by banks is one of the reasons for the reduction. According to Juan Carlos Arguello, president of the Association of Private Banks of Nicaragua (Asobanp), the downward trend will be maintained.
Monday, January 16, 2012
The financing company is registering with the regulating authority the creation of a financial group made up by the financing company, an insurance seller and a leasing company.
Silvio Lacayo, Desyfin manager, said the proceedings were initiated in 2011 with the Superintendent of Financial Institutions and they are awaiting final approval by the agency.
Friday, January 13, 2012
Banking Center assets recorded a total of $81.24 billion, an increase of $10.34 billion, 14.6%, more than in November 2010.
A press release from the Superintendency of Banks of Panama reads:
Banking Center assets totalled $81.24 billion, an increase of $10.34 billion (14.60%) when compared to November 2010.
Tuesday, January 10, 2012
Only the Banco Popular plans to open ten new offices, the rest have plans from only one or two openings.
For the banks Nacional BCR, BCT, Lafise and others, it will be a year of moderate growth and their plans will be to participate in new developments or strategic communities.
Wednesday, January 4, 2012
A Fitch Special Report indicates better positioning in the face of external uncertainty.
SUMMARY
Strengthened Financial Performance:
The banking systems of Central America and the Dominican Republic (hereinafter the region) will continue to strengthen their financial performance as the region continues to recover its rate of GDP growth, estimated at about 4% by 2012 under Fitch’s baseline scenario.
Friday, December 9, 2011
In recent months, 51 financial institutions have joined the Interconnected Payments System (SIP in Spanish).
The system allows users, whether they be natural or legal persons, to make electronic fund transfers between Central American countries, including the Dominican Republic, in US dollars, quickly, safely and inexpensively.
Thursday, December 8, 2011
Economy and Development Report by CAF - Development Bank in Latin America -entitled Financial Services for development: promoting access in Latin America.
From the introduction of the first chapter of the report:
Friday, December 2, 2011
According to a resolution from the Junta Monetaria (JM) banks in the financial system can offer their clients mass scale insurance services.
Resolution JM-142-2011, published on Friday 2 December in the Diario Oficial states that the sale of insurance products has been regulated by article 89 of the Law on Insurance Activities since the 5th of January, however it was necessary for the JM , in the opinion of the Superintendency of Banks (SIB), to authorize banking institutions to undertake other operations and provide other services that were not accounted for in the aforementioned legislation ‘as long as they are compatible with normal functions’.
Tuesday, November 15, 2011
Bankers say they are prepared for the tests due to be carried out on entities.
The Nicaragua banking system has strengthened in recent years and should easily pass the financial stress tests it will be submitted to, with the technical assistance of the International Monetary Fund.
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