Banpaís Moves Up In Honduras

Honduran Banco del País (Banpaís) has become the country’s third-largest bank following its merger with local savings and loan bank La Constancia. The merger gives the Bank a total of 250,000 accountholders, and loans worth $471 million, or 13% of total loans in the market. Banpaís was set up in Honduras in 1992. It embarked on a strategy of growth via acquisition three years ago when it took over failing Banco Sogerin and Banco de las Fuerzas Armadas, a bank owned by the military.