Central American Banking in October 2014
Monday, October 20, 2014
Analysis by Fitch Ratings projects that banks in the region will maintain strong balance sheets and have stable profitability in 2014.
Excerpted from Fitch Ratings:
Appreciation of Quetzal in Guatemala
Thursday, October 16, 2014
The increase in remittance income is the main factor that has led to the value of the local currency against the dollar rising to its highest level in the past two years.
While in other Central American countries local...
Citi to Sell its Operations in Central America
Tuesday, October 14, 2014
The group has announced that as part of its long-term strategy it will withdraw from the consumer banking business in Costa Rica, El Salvador, Panama, Guatemala and Nicaragua.
Extract from a statement issued by...
Guatemalan Stock Market Approaches International Market
Thursday, October 9, 2014
Amendments to securities regulations are being prepared in order to allow local stock brokers to buying shares of listed companies in developed markets.
This change in regulations and operational...
Change in Exchange Rate Trend in Guatemala
Thursday, October 2, 2014
Since August the quetzal has been appreciating against the dollar, mainly due to an increase of foreign exchange coming into the country in the form of remittances.
Although in the first eight months of the year the...
Guatemala Maintains Interest Rate at 4.5%
Monday, September 1, 2014
Considering the main internal and external variables stable, the Bank of Guatemala is keeping the leading policy rate, a major reference for interest rates in the country, unchanged.
From a statement issued by the Bank of Guatemala:
Guatemala: Banking Secrecy Once Again
Friday, August 29, 2014
Financial authorities insist on the need to eliminate bank secrecy in order to access information on taxpayers accounts where suspicious movements have been reported.
Now it is the Superintendency of Banks (SIB) which is...
Guatemalan Bank Could Operate in Panama
Tuesday, August 19, 2014
Banco Industrial has announced that it is prepared to start operations in Panama's financial center in the first quarter of 2015.
The Bank which is of Guatemalan origin, and which...
Analysis of Financial Sector in Central America
Monday, August 11, 2014
For the last four years the loan portfolio of the Salvadoran financial system has been growing at an average rate of 3.5%, below the 11% growth average in the rest of the region.
A report produced by the rating agency Moody's notes...
Guatemala: Bank Assets Up 12%
Tuesday, July 29, 2014
In the first half of 2014 banks assets in the country increased by 12% compared to the same period in 2013, while the amount of loans granted grew by 11%.
Data from the Superintendence of Banks of Guatemala...