Bancolombia forecasts growth with political change in Central America

The Bancolombia Group, which achieved net profits to $828 million last year, forecasts a yet more favorable 2019, despite uncertainty over the emergence of new governments in Panama, El Salvador and Guatemala.

"We are particularly happy with the evolution of the banks in Central America and Colombia, which means that we are forecasting a favorable growth dynamic, with an improved balance sheet and solid domestic demand," said bank president Juan Carlos Mora.

The Bancolombia Group forecasts speedier growth in Colombia at 3.2 percent, 5.1 in Panama, 3.3 in Guatemala and 2.5 percent in El Salvador., Prensa Libre reports.