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International financial groups are on the lookout for growth in Latin America. Central America, in particular, is catching their eye.
In July, Banco de Bogotá, a Colombian lender, completed the US$1.9bn purchase of BAC-Credomatic, a Costa Rica-based bank, from GE Money. The deal provides further proof that Latin American banks are shaking off their shyness abroad. It also suggests that Central America, usually overshadowed by the large, fast-growing economies further south, is firmly on the radar of international dealmakers.
Read more at Financial Services Briefing: “Hot spot” (August 18th)