GE Capital Global Banking, the
recently formed banking unit of General Electric, has increased its
ownership stake in BAC-Credomatic GECF, from 49.99 percent to 75
percent. BAC-Credomatic owns the retail bank BAC International Bank
and the BAC and Credomatic operations throughout Central America.
Terms were not disclosed.
“Our partnership with BAC-Credomatic has
performed very strongly over the last four years,” said Dmitri
Stockton, president and CEO of GE Capital Global Banking.
Go deeper with GlobalData
“We have a great deal of confidence in the
management team at BAC-Credomatic and we look forward to continuing
our productive relationship.”
BAC International Bank has operations across
Central America, including Costa Rica, El Salvador, Guatemala,
Honduras, Nicaragua and Panama, with approximately $7.5 billion in
assets, and $4.7 billion in deposits.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
