A Taste for Travel
Best Bank - Colombia - Best Latin American Regional Strategy - Banco de Bogotá
Banco de Bogotá may be the oldest bank in Colombia,
but it has become one of the more exciting stories to emerge
this year from the country's financial system as it transforms
itself into a regional player after its acquisition of Central
In a year that saw little cross-border activity among LatAm
banks, Banco de Bogotá was one of the most interesting
expansion plays, especially given the bank's conservative
"Banco de Bogotá is a traditional commercial lender
that has now become a universal bank with a credit card
company," says Felipe Carvallo, an analyst in the financial
institutions group at Moody's.
Late last year, the bank closed the $1.9 billion purchase of
financial conglomerate BAC Credomatic, which has a presence in
all countries from Mexico down to Panama. The acquisition was
seen as a sensible way to diversify its revenue...
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