Panama's Banvivienda sells Progreso unit
Panamanian bank Banvivienda announced it has sold its Progreso unit to Global Bank Corporation.
The transaction is worth $27 million, and comes as Banvivienda seeks to focus on its banking business.
Progreso is a pension fund firm and is the only one in Panama in receiving AAA investment grade by Fitch Ratings for 10 consecutive years.
Source (in Spanish): Panamá América