Guatemala’s G&T Rejects Sale Talk

Guatemala’s G&T Continental has categorically denied that it is being acquired, in response to rumors of a takeover. “Grupo Financiero G&T Continental is not for sale,” says the bank’s CEO, Flavio Montenegro. “It will be maintained as the bank of preference for Guatemalans, the leading entity in Guatemala and the most important in Central America, thanks to the support and trust of its clients,” he adds. HSBC is understood by Guatemala City-based bankers to be working on an acquisition of the financial institution, amid ongoing interest in the sector from foreign banks. “They’re doing due diligence,” says a banker. However, G&T rejects talk of an offer from HSBC as “totally false.”