Best Bank - Guatemala

Nov 1, 2010

With economic growth returning to Guatemala after a relatively shallow crisis, its banks can return to plans being made prior to 2008.

Banco Industrial, the country’s largest financial institution, has perhaps the most far-reaching strategy.

In addition to defending its local lead in assets, loans and deposits, the bank is again working to expand throughout Central America and list on Mexico’s stock exchange, says Luis Fernando Prado, director of the international division.

"Our goal is to expand through Central America," Prado tells LatinFinance. Already operating in Honduras, the bank opens in December in El Salvador, after receiving the appropriate licensing this year. Panama and Costa Rica are more distant possibilities for organic or acquisition-based expansion.

Industrial is also considering several options to raise funds for the expansion, as well...

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