 | |
| Company type | Subsidiary |
|---|---|
| Industry | Finance and Insurance |
| Founded | 1891 |
| Headquarters | San Salvador, El Salvador |
Key people | Gerardo Jose Siman-Siri, CEO |
| Products | Banking and Insurance |
Number of employees | 1,800 (2012) |
| Parent | Davivienda |
| Website | www |
Banco Davivienda El Salvador, established in 1885, is the third largest bank in El Salvador. [1] As of 2012 [update] , it had some 65 branches, 1,800 employees and $1.5 billion in assets.
In 1891 the bank, merged with the branch there of Anglo-South American Bank under the name Banco Salvadoreño (Bancosal). The bank came to an agreement with Banco Internacional de El Salvador, which had a 25-year monopoly on note issuance, so that it too could issue notes. The government of El Salvador nationalized the bank in 1980 as part of a blanket nationalization of financial institutions, but privatized the bank in 1993.
In November 2006, HSBC acquired Grupo Banistmo (Banistmo), a Panamanian banking group that owned Panama's leading bank, Primer Banco del Istmo, and 106 other branches in Costa Rica, Honduras, Colombia and Nicaragua, as well as 56.2% of the holding company that owned Bancosal. The next year, HSBC extended two tender offers to acquire the remaining shares in the bank. The bank changed its name to Banco HSBC Salvadoreño and then to HSBC El Salvador.
HSBC sold its operations in El Salvador to Colombian bank Davivienda in 2012 and the bank was renamed Banco Davivienda El Salvador. [2]
HSBC Holdings plc is a British universal bank and financial services group headquartered in London, England, with historical and business links to East Asia and a multinational footprint. It is the largest Europe-based bank by total assets, ahead of BNP Paribas, with US$2.919 trillion as of December 2023.
BankBoston was a bank based in Boston, Massachusetts, which was created by the 1996 merger of Bank of Boston and BayBank. One of its predecessor banks started in 1784, but the merged BankBoston was short-lived, being acquired by FleetBoston Financial in 1999. In 2005, FleetBoston was purchased by, and merged into, Bank of America of Charlotte, North Carolina.
The colón was the currency of El Salvador from 1892 until 2001, when it was replaced by the U.S. dollar during the presidency of Francisco Flores. The colón was subdivided into 100 centavos and its ISO 4217 code was SVC. The plural is "colones" in Spanish and the currency was named after Christopher Columbus, known as Cristóbal Colón in Spanish.
Banco Santander S.A. trading as Santander Group, is a Spanish multinational financial services company based in Madrid and Santander in Spain. Additionally, Santander maintains a presence in most global financial centres as the 19th-largest banking institution in the world. Although known for its European banking operations, it has extended operations across North and South America, and more recently in continental Asia. It is considered a systemically important bank by the Financial Stability Board.
HSBC México, S.A., the principal operating company of Grupo Financiero HSBC, S.A. de C.V., is one of Mexico’s four largest banking and financial service companies, with 1,400 branches and 5,200 ATMs. HSBC purchased Banco Internacional, S.A. known as Bital, in November 2002, several years after Bital participated in the controversial Fobaproa, which rescued the nation's banks from the 1994 crisis, at the cost of the Mexican taxpayers.
The peso was the currency of El Salvador between 1877 and 1919.
HSBC Bank Argentina S.A. was the principal HSBC operating company in Argentina. It was the seventh-largest bank in the country, it provided a full range of banking and financial products and services, including commercial, consumer and corporate banking, to over 1.2 million customers. In April 2024, HSBC reached an agreement to sell its banking operations in Argentina to Banco Galicia. The re-brand process took about 12 months.
Grupo Banistmo was a Panamanian financial services company, and the largest in Central America. It was founded in 1984. In 1999 it began an expansion strategy that has resulted in the acquisition of banks in several Central American countries, as well as Colombia and the Bahamas. It was the holding company of Primer Banco del Istmo, S.A. or Banistmo, the largest bank in Panama. Its President and Chief Executive Officer was Alberto Vallarino. In November 2006 it was acquired by HSBC Holdings plc, and merged with HSBC Bank (Panama) S.A., the bank's existing subsidiary in 2007. In 2013 Bancolombia Group acquired HSBC Panama and renamed it Banistmo.
Itaú Chile is a Chilean commercial bank that is the subsidiary of Brazilian Itaú Unibanco. As of 2023, the bank had 168 branches in Chile and 68 branches in Colombia. Itaú Corpbanca is headquartered in Santiago and has offices in Lima, Madrid, Miami and New York City.
Bancolombia S.A. is a full-service financial institution that provides financial products and services in Colombia, Panama, El Salvador, Puerto Rico, the Cayman Islands, Peru and Guatemala. Bancolombia is one of the six banking-related companies of the COLCAP index. The Bank operates in nine segments: Banking Colombia, Banking El Salvador, Leasing, Trust, Investment, Brokerage, Off Shore, Pension and Insurance, and all other segments.
Davivienda is a Colombian bank founded on August 1, 1972, which renders services to individuals, companies, and the rural sector. Currently, it is part of Grupo Bolivar and it is the third-largest bank in Colombia by assets and profits.
HSBC Bank may refer to any one of the following principal local banks or divisions of the HSBC Group:
HSBC Bank (Panama) S.A. was a subsidiary of HSBC Holdings plc headquartered in Panama City, Panama. The bank provides Personal banking, Corporate banking and Treasury services to Panama. In 2013 Bancolombia Group acquired HSBC Panama and renamed it as Banistmo.
The Anglo-South American Bank was a British and Argentine bank established with the acquisition of the Anglo-Argentine Bank in 1900 by the Bank of Tarapacá and London. The new bank first took the name of Bank of Tarapacá and Argentina, which it changed in 1907 to Anglo-South American Bank.
Jaime Gilinski Bacal is a Colombian banker, investor, and real estate developer. Gilinski resides in London. According to Forbes, he is the second richest person in Colombia, with a net worth of US$ 8.6 billion as of 2024.
The Banco Pichincha is the largest private-sector bank in Ecuador, by capitalization and by number of depositors. It is the primary bank of the Pichincha Group, a business group that includes the companies associated with the bank and businesses related to Fidel Egas Grijalva and his family, which include Diners Club of Ecuador, Picaval and Teleamazonas.
ABANCA Corporación Bancaria, S.A. is a Spanish bank based in Galicia. It was created in September in 2011 following the "bankisation" of Novacaixagalicia savings bank. It operates in the autonomous communities of Galicia, Asturias and the province of León, in other parts of Spain and in Portugal, as well as offices in the UK, Germany, France, Switzerland, Brazil, Venezuela, Panama, Mexico and the USA.
The economy of Central America is the eleventh-largest economy in Latin America, behind Brazil, Mexico, Argentina and Colombia. According to the World Bank, the nominal GDP of Central America reached 204 billion US dollar in 2010, as recovery from the crisis of 2009, where gross domestic product (GDP) suffered a decline to 3.8%. The major economic sectors are agriculture and tourism, although the industrial sector has shown strong growth, mainly in Panama.
María Eugenia Brizuela de Ávila is a Salvadoran lawyer who served as Minister of Foreign Affairs for the country from 1999 to 2004. She worked as a Director of Corporate Sustainability at HSBC for Latin America and is based in Mexico City.