Banco Agromercantil In Talks To Acquire Banco Del Café

Meanwhile, in Guatemala, the country’s fifth-largest bank – Banco Agromercantil – is in talks to buy Banco del Café, the next largest bank. The deal would be financed via a capital increase and with loans from Cabei, Citibank, and Wachovia. Banco Agromercantil was formed six years ago from the merger of two of the country’s oldest banking groups – Banco del Agro and Banco Agrícola Mercantil. Although one of the country’s smaller banks, with less than 10% market share, it is considered one of the most profitable and has been consistently voted best bank in Guatemala by financial publications. It is now in what it calls its “third phase”, which is one of expansion.