Bancolombia To Form Largest Leasing Company

Bancolombia, Colombia’s largest bank, in terms of market share, is planning to form the country’s largest leasing company when it merges Leasing Colombia and Suleasing. The new entity, which is still without a name, will start operations in the first half of 2006. It will have assets of $1.3 billion. It will become the third-largest leasing company in Latin America after Itauleasing and Safra Leasing of Brazil.