BANKING
Cryptocurrencies are Illegal in Guatemala
Feb-22-21 | After multiple consultations, the Superintendency of Banks announced that virtual currencies or assets such as Bitcoin, Ethereum, Ripple and other similar ones, are not legal tender in the country.
Optimism for New Financial Leasing Law
Feb-16-21 | Currently, financial leasing operations in Guatemala amount to $1,290 million, but with the approval of the new legal framework the portfolio could increase in the medium term between $1,677 million and $1,935 million.
Guatemala: Endorsement of Financial Leasing Regulation
Feb-12-21 | The Congress approved by articles and final wording the Leasing Law, a legal framework that establishes mechanisms for people to lease with option to purchase.
Financial Services: What are Consumers Looking for?
Oct-30-20 | Between July and October 2020, the number of people in El Salvador exploring mortgage options online increased by 18%, and the number of Costa Rican consumers looking to buy credit cards decreased by 60%.
Loan Portfolio: Growth Slows Down
Oct-15-20 | In June 2020, in the context of confinement and the economic crisis, bank credit to the private sector reported an 8% year-on-year increase, but as of July growth began to slow and in September the increase was 5.7%.
More People Seek Credit Cards
Sep-21-20 | In the last few months, interest in credit cards has been increasing in the digital environment, a rise that is mainly explained by the behavior of consumers in Panama, Honduras, El Salvador and Costa Rica.
Loans in Guatemala: Making Procedures More Flexible
Aug-14-20 | The Monetary Board approved the changes to the Credit Risk Regulations, which were proposed by the Superintendence of Banks and seek to simplify the requirements for loans not exceeding $160,000.
Financial Sector Forced to Innovate
Jul-21-20 | The current business scenario ended up breaking down several barriers, and now there are more customers who demand the online services of financial institutions, which are challenged to facilitate digital processes and in turn apply strict security standards.
Credits: Potential Market in the Region
Jul-20-20 | In the countries of the region, more than 8 million people are looking for credit on the Internet. Of this group of consumers, approximately 9% explore options for taking out a student loan.
Financial Services: Business Potential in Central America
Jun-25-20 | At a regional level, nearly 16 million people are looking to purchase financial services online. Of this group of consumers, approximately 11% are exploring options for acquiring a credit card.
Banco Nacional de Costa Rica Extends Credit for Covid-19
Jun-2-20 | The coronavirus has left an economic impact in several countries. For this reason, some governments are developing exceptional measures to mitigate its effects. For example, the suspension of tax and mortgage payments to lessen the economic pressure on small businesses and households.
Central America: Negative Outlook for the Banking Sector
Mar-31-20 | Fitch Ratings agreed to change the perspective of the region's banks from stable to negative, arguing that the current health crisis will affect financial institutions in all countries.
Impact of the Crisis on the Banking Sector
Mar-26-20 | Increased demand for credit and more requests for loan restructuring is part of what the covid-19 crisis has brought to Guatemala's banking sector.
Guatemala: New Reduction in Prime Rate
Mar-26-20 | As part of the health emergency generated by the spread of covid-19, the Bank of Guatemala decided to reduce the prime interest rate again, from 2.25% to 2%.
Covid-19: Outlook for the Financial Sector
Mar-24-20 | The impact of the coronavirus crisis on the financial sector in Central America is expected to be felt mainly in services related to stock brokerage and investment advice, where a drop is expected.
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