Honduras’s Ficohsa to Buy Guatemalan Bank

Ficohsa Financial Group (GFF), signed an agreement to acquire 90 percent of the shares of Banco Americano, S.A., a bank in the Guatemalan financial system that has operated since 1995.

The completion of the transaction is subject to authorization by the Superintendent of Banks of Guatemala. This is part of the normal rules of procedure for the acquisition of shares approved by the Guatemalan Monetary Board.

GFF is a main shareholder of Banco Ficohsa. The financial group began its internationalization strategy in 2001, with a representative office in United States, in the State of Florida, with the aim of serving the Honduran emigrant market.

In 2011, GFF continued its strategy of expansion, kicking off operations in Panama. The financial group has managed to establish operations in three Central American countries, in addition to the United States market.

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