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