{"id":27265,"date":"2019-11-04T11:34:01","date_gmt":"2019-11-04T16:34:01","guid":{"rendered":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=27265"},"modified":"2019-11-04T11:34:01","modified_gmt":"2019-11-04T16:34:01","slug":"bac-parent-company-buys-multibank-panama","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/bac-parent-company-buys-multibank-panama\/","title":{"rendered":"BAC parent company buys Multibank Panama"},"content":{"rendered":"

\"\"<\/a><\/p>\n

Colombia\u2019s Grupo Aval, owner in Panama of BAC, has reached an agreement to acquire Multibank Financial Group, the holding company of Multibank Panama, which has assets of US$5 billion.<\/p>\n

Aval said that the transaction, which will be carried out through its subsidiary Banco de Bogot\u00e1, represents an important step in its regionalization strategy, Newsroom Panama<\/a> reports.<\/p>\n

\u201cPanama is the country in Central America with the highest credit rating by international agencies,\u201d said Grupo Aval CEO Luis Carlos Sarmiento Guti\u00e9rrez<\/p>\n

At the end of June, Multibank Financial Group assets amounted to $5, billion. In the year ended June, the benefit of the Multibank Financial Group was $60 million. With the transaction, the Colombian group will add around 100,000 new clients in Panama<\/p>\n

The operation, which must still be approved by the regulatory authorities, could be closed in the second quarter of 2020.
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    Colombia\u2019s Grupo Aval, owner in Panama of BAC, has reached an agreement to acquire Multibank Financial Group, the<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[242,12,241,39,248,34,33,62,42,219,11,249,243,7,255,246,244,44],"class_list":["post-27265","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective","tag-boca-chica-real-estate","tag-boquete","tag-boquete-real-estate","tag-buenaventura","tag-casco","tag-casco-antiguo","tag-casco-viejo","tag-coffee-in-panama","tag-estate-homes-in-panama","tag-move-to-panama","tag-offshore-real-estate","tag-panama-offshore-real-estate","tag-panama-papers","tag-panama-real-estate","tag-panama-real-estate-bocas-del-toro","tag-relocate-to-panama","tag-rum-in-panama","tag-travel-to-panama"],"yoast_head":"\nBAC parent company buys Multibank 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