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Colombia's Banco Anglo Colombiano will develop strategies to target consumer banking, Anglo president Donald Scott said. The bank currently focuses on the corporate sector but plans to invest US$3mn to restructure its branches in preparation for more consumer-orientated banking, Scott said. Anglo is owned by UK-based Lloyds Bank.
Anglo will also restructure its commercial loan portfolio to face up to the local and regional economic recession. The bank will make extra provisions for bad loans to take it through to the next millenium, he said.
Anglo capitalized last year's profits and will not require lines of credit being offered by the state to help banks capitalize and restructure, Scott said.
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