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This strategic move was part of HSBC’s broader plan to streamline its operations and reduce its presence in Latin America. The transaction was completed in October 2013, with HSBC Panama rebranding as Banistmo. [2] At the time of the rebranding to Banistmo, HSBC Panama was the second largest bank in Panama in terms of market share in loans ...
Headquarters of First National City Bank of New York in Casco Viejo, Panama. In 1903, the first two modern Panamanian banking institutions were created: the International Bank Corporation, which would later be called First National City Bank of New York, now Citibank, and the Banco Hipotecario y Prendario, which was enacted by law by Panamanian President Manuel Amador Guerrero on June 13 of ...
Grupo Banistmo was a Panamanian financial services company, and the largest in Central America.It was founded in 1984. In 1999 it began an expansion strategy that has resulted in the acquisition of banks in several Central American countries, as well as Colombia and the Bahamas.
HSBC has announced that it has entered into an agreement to sell Panamanian subsidiary HSBC Bank (Panama). The buyer is South American financial Bancolombia , which is to pay $2.1 billion in cash ...
Secretary of State Marco Rubio sent a warning about the Panama Canal, saying the current status of the trade route is “unacceptable.” According to a summary of Rubio’s meeting with Panama ...
Rubio defended his first trip as U.S. Secretary to Panama and cited concerns over Chinese influence at the Panama Canal. In an interview, Rubio said, "Hong Kong-based companies having control over ...
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Following the expansion of the canal, which began in 2007 and Panama financed at a cost of more than $5 billion, more cargo than ever runs through the canal than it did during the years of US ...