Guatemalan Banks Heard on the Block

HSBC is understood to be working on an acquisition of Guatemala’s G&T Continental, according to Guatemala City-based sources. “They’re doing due diligence,” says a banker familiar with the process. He adds that international banks are looking to make further acquisitions and suggests a Scotia purchase of Banco Industrial may well be next. “We’re going the same way as El Salvador, where there’s no national bank,” says the source. The banker adds that the trend is in general good for Guatemala. “Nobody’s losing any sleep about it,” he quips.