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Bank Buys Citi Mortgage Portfolio
- Monday, 25 July 2011 01:54
- Last Updated on Friday, 22 July 2011 07:55
- Written by Rod Hughes
Banco General Costa Rica has purchased Citibank's portfolio of some 1,000 US dollar mortgages in the country. Spokesmen for the latter say that the deal will allow Citi to focus on business transactions (especially small business), credit cards and personal credit.
For Banco General, it offers a strengthening of its personal banking share, giving it 2,000 more customers with $200 million in active assets.
Banco General Costa Rica, a subsidiary of Banco General Panama, has been in the country since 2007 and currently has four branches. The parent company is largest in Panama with subsidiaries in Mexico, Guatemala, El Salvador and Colombia.
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