GE Capital Global Banking, the
recently formed banking unit of General Electric, has increased its
ownership stake in BAC-Credomatic GECF, from 49.99 percent to 75
percent. BAC-Credomatic owns the retail bank BAC International Bank
and the BAC and Credomatic operations throughout Central America.
Terms were not disclosed.
“Our partnership with BAC-Credomatic has
performed very strongly over the last four years,” said Dmitri
Stockton, president and CEO of GE Capital Global Banking.
“We have a great deal of confidence in the
management team at BAC-Credomatic and we look forward to continuing
our productive relationship.”
BAC International Bank has operations across
Central America, including Costa Rica, El Salvador, Guatemala,
Honduras, Nicaragua and Panama, with approximately $7.5 billion in
assets, and $4.7 billion in deposits.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
![](/wp-content/themes/goodlife-wp-B2B/assets/images/company-profile-unit.png)
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData