Bancolombia Buys Banagrícola

Bancolombia Buys Banagrícola

Colombia

Colombia's largest financial institution, Bancolombia, is grabbing a larger slice of the action in Central America after it agreed to acquire Salvadorian financial group Banagrícola. Bancolombia has agreed to buy at least 52.9% and up to 100% of the Group for between $460 million and $900 million in cash via its subsidiary Bancolombia Panamá. Banagrícola owns local bank Banco Agrícola, which has a 29% share of all deposits and loans in El Salvador, as well as the leading insurer – Asesuisa – whi

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