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Latin America Investment News on Viva Tropical

Davivienda Takes Over HSBC in Central America

Article Summary:

The Financial Superintendence of Colombia gave the green light to bank Davivienda to close the deal to acquire HSBC’s subsidiaries in Honduras, Costa Rica, and El Salvador.

Photo Credit: Buisness Review America Latina

Original Article Text From Nacion via Google Translate :

Davivienda Receives Collateral for HSBC Purchasing

The Financial Superintendence of Colombia gave the green light to bank Davivienda to close the deal to acquire HSBC’s subsidiaries in Honduras, Costa Rica and El Salvador.

The approval was issued by the Colombian supervisory body on 9 November. This step was necessary for the initiation of the change of ownership.

The amount of the acquisition is $ 801 million.

Since last June, the Superintendency of Banks of Panama, lies the conglomerate that owns the Costa Rican operation of HSBC, gave the nod to this transaction. In the country, the approval corresponded to the Superintendent of Financial Institutions (Sugef).

In Costa Rica, HSBC branches in July began a reduction of external signs (advertisements and stationery), in preparation for the makeover.

Link to Original Article:

From Nacion

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