Banco Industrial Eyes IPO amid Regional Expansion Plan

Guatemala-based Banco Industrial is preparing to IPO as part of a growth strategy that includes establishing operations in Panama and Costa Rica, Luis Prado, the bank’s international division manager tells LatinFinance. An IPO is not an “immediate” likelihood, but an option for the medium term, says Prado. “It’s matter of finding the right timing, because these are deals that transform an institution,” he says. Opening the bank to fresh capital through an IPO would be particularly important if it pushes ahead with growth and acquisitions in Central America. “The growth opportunities are there today, and if we don’t take advantage of them then other banks certainly will,” he says. Banco Industrial hopes also to expand its operations in El Salvador and Honduras organically and potentially through acquisitions, and to enter the Costa Rican and Panamanian markets.