Elektra Opens Banco Azteca In Guatemala

Mexican retailer Elektra, owned by Grupo Salinas, has opened its second banking subsidiary outside Mexico. Banco Azteca Guatemala is a wholly owned subsidiary of the Group and the second banking unit to be launched after Panama. Azteca Guatemala, headquartered in Guatemala City, has a nationwide network, the bank said in a statement. Elektra has been present in the local market since 1997. Grupo Salinas set up Banco Azteca in 2002 to complement its network of Elektra electro domestic outlets. Earlier this year the bank got the nod from Honduran bank regulator (CNBS), which has approved its banking license to operate in Honduras.