Saturday, December 23, 2006

Major Salvadoran banks sold

In recent weeks, two major Salvadoran banks have been sold to foreign banking interests. In the first transaction, US mega-bank Citigroup acquired Banco Cuscatlan. This sale was followed by the sale of El Salvador's largest bank, Banagricola, to Bancolombia, a financial institution based in Colombia.

1 comment:

Anonymous said...

OK, so now 2-years after the adquisition of BAC by CIB what is the economic outlook of the move. Has this merger/adquisition been a positive or a negative for the people of ES.