IFC invests USD 70 mln in Guatemala Banco G&T Continental

The International Finance Corporation (IFC), arm of the World Bank, announced an equity investment in Banco G&T Continental, a key player in Guatemala financial sector. The bank has operations in Costa Rica, El Salvador, and Panama. Investments of IFC amount to USD 70 million. With the investment IFC will expand the bank services to small and medium enterprises in Central America.

Also, IFC plans to invest USD 100-150 million in Guatemala in infrastructure (energy), agribusiness and financial system. Banco G&T Continental Banco G&T is Guatemala second-largest banking institution with total assets of USD 2.88 billion as of October 31, 2007. The entity has 266 branches, mini-banks, and 1,100 ATMs in Guatemala.

Publication: BIS - Business Information Systems
Provider: Business Information Systems
Date: August 1, 2008