Global Bank sees pick up in private banking

Global Bank sees pick up in private banking

M&A Corporate & Sovereign Strategy Panama Central America

Panama's Global Bank expects its private banking division to grow 10% this year as its merger with Banvivienda brings new clients and the local wealth management sector posts strong gains. "We are targeting 10% growth," Mónica García de Paredes de Chapman, vice president of private banking, told LatinFinance. "We have $1.3bn in assets and 1,100 clients. With Banvivienda, we will have 300 more and access to a very interesting client mix," she said. Global Bank expects to close the $245m acquisiti

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