Colombia's third largest bank Banco Davivienda offers a broad range of banking products and services to both personal and business clients. Initially focused on housing financing, the bank has subsequently broadened to encompass a wide variety of sectors including retail banking, corporate banking and SME banking. The company offers savings and checking accounts, certificates of deposit, and bonds. Its loan portfolio comprises home mortgage and leasing loans, commercial loans, consumer loans, auto loans, credit cards, and other personal credits. The company's subsidiaries include car loan company Confinanciera, trust companies Fiduciaria Cafetera and Fiduciaria Davivienda, and securities brokerage firm Davivalores. In late 2012, the bank closed the acquisition of HSBC's subsidiaries in El Salvador, Costa Rica and Honduras for US$801mn. In the region, it also has a unit in Panama and a representative office in Miami, US. Banco Davivienda was founded in 1972 and is owned by the local Bolivar group.