Global Bank acquired 99.972% of the shares of Banvivienda, for an estimated price of USD $245 million a transaction that reduces the banking market in Panama and continues to concentrate on large players. As part of the transaction, Banvivienda shareholders will continue in the banking business with 5% of Global Bank’s capital stock. The transaction is subject to approval by the Superintendency of Banks and the Superintendency of the Securities Market, is expected to be completed by the end of this year. The agreement with Banvivienda will allow Global Bank to incorporate more than 39,000 customers and a network of ...
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