Banco Davivienda El Salvador, established in 1885, is the third largest bank in El Salvador.[1] As of 2012[update], it had some 65 branches, 1,800 employees and $1.5 billion in assets.
In 1891 the bank, merged with the branch there of Anglo-South American Bank under the name Banco Salvadoreño (Bancosal). The bank came to an agreement with Banco Internacional de El Salvador, which had a 25-year monopoly on note issuance, so that it too could issue notes. The government of El Salvador nationalized the bank in 1980 as part of a blanket nationalization of financial institutions, but privatized the bank in 1993.
In November 2006, HSBC acquired Grupo Banistmo (Banistmo), a Panamanian banking group that owned Panama's leading bank, Primer Banco del Istmo, and 106 other branches in Costa Rica, Honduras, Colombia and Nicaragua, as well as 56.2% of the holding company that owned Bancosal. The next year, HSBC extended two tender offers to acquire the remaining shares in the bank. The bank changed its name to Banco HSBC Salvadoreño and then to HSBC El Salvador.
HSBC sold its operations in El Salvador to Colombian bank Davivienda in 2012 and the bank was renamed Banco Davivienda El Salvador.[2]
Referencesedit
^"Cuscatlán will consolidate as the number two bank in El Salvador". August 2, 2019.
banco, davivienda, salvador, established, 1885, third, largest, bank, salvador, 2012, update, some, branches, employees, billion, assets, banco, davivienda, salvadoreño, company, typesubsidiaryindustryfinance, insurancefounded1891, years, 1891, headquarterssan. Banco Davivienda El Salvador established in 1885 is the third largest bank in El Salvador 1 As of 2012 update it had some 65 branches 1 800 employees and 1 5 billion in assets Banco Davivienda Salvadoreno S A Company typeSubsidiaryIndustryFinance and InsuranceFounded1891 133 years ago 1891 HeadquartersSan Salvador El SalvadorKey peopleGerardo Jose Siman Siri CEOProductsBanking and InsuranceNumber of employees1 800 2012 ParentDaviviendaWebsitewww wbr davivienda wbr com wbr svHistory editIn 1891 the bank merged with the branch there of Anglo South American Bank under the name Banco Salvadoreno Bancosal The bank came to an agreement with Banco Internacional de El Salvador which had a 25 year monopoly on note issuance so that it too could issue notes The government of El Salvador nationalized the bank in 1980 as part of a blanket nationalization of financial institutions but privatized the bank in 1993 In November 2006 HSBC acquired Grupo Banistmo Banistmo a Panamanian banking group that owned Panama s leading bank Primer Banco del Istmo and 106 other branches in Costa Rica Honduras Colombia and Nicaragua as well as 56 2 of the holding company that owned Bancosal The next year HSBC extended two tender offers to acquire the remaining shares in the bank The bank changed its name to Banco HSBC Salvadoreno and then to HSBC El Salvador HSBC sold its operations in El Salvador to Colombian bank Davivienda in 2012 and the bank was renamed Banco Davivienda El Salvador 2 References edit Cuscatlan will consolidate as the number two bank in El Salvador August 2 2019 HSBC Sells Latin American BusinessesWebsite editArchive of HSBC El Salvador Retrieved from https en wikipedia org w index php title Banco Davivienda El Salvador amp oldid 1101268478, wikipedia, wiki, book, books, library,
