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Global Bank from Panamá buys Banvivienda for $250 million

Tuesday, September 25, 2018

Global Bank de Panamá announced the acquisition of Banvivienda for $250 million. Banvivienda is a subsidiary of Panama's Grupo Mundial Tenedora.

The banks made clear that shareholders in Banvivienda would have a 5 percent holding in Global's holding company, GB Group Corporation.

The purchase means that Global will now become the second largest Panama-owned bank in terms of deposits, assets and loans.