Davivenda Snaps up HSBC’s CentAm Assets

Jan 25, 2012

HSBC has sold operations in 3 Central American countries to Colombia’s Davivienda for $801m, as the global bank continues to cut back in LatAm The move also marks a big step for Colombia’s largest bank in its ambitious expansion plans abroad, allowing it to grow some 20%. In the all-cash deal, Davivienda takes over HSBC’s retail, corporate, commercial and insurance businesses in Costa Rica, El Salvador and Honduras, a network of 136 branches. As of September,...

To continue reading please take a free trial, subscribe or login below.


Already have an account?

Subscribe

Subscribe now for unlimited access to all current and archive news, data and market analysis. 

Subscribe

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial

LatinFinance Events

Poll

Are populist governments like Venezuela & Argentina turning pragmatic?

Vote