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Bancolombia and Banco Bogotá face Central America long haul

Monday, September 27, 2010

Contrary to what many people believe, Central America is no gold mine for Colombian banks, but it will be in future once it recovers its commercial dynamism.

Bancolombia acquired El Salvador’s Banagrícola in 2007. Since then remittances have dwindled and so too have textile exports because of the US crisis.

But the Colombian banks are looking to the future in the region. Banco de Bogotá is taking that view following its acquisition of BAC-Credomatic.

Original source (in Spanish): La República