Banking - Guatemala

Reformador, Construbanco to Merge

Reformador, Construbanco to Merge

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uatemala's Banco Reformador and construction-focused Banco de la Construccion (Construbanco) have reached an agreement to merge, officials from both companies announced at a press conference yesterday.

In the next couple of months Reformador will absorb Construbanco, Construbanco chairman Roberto Cobar said, adding that the new entity will retain the Reformador brand, which is more generic and will project the image that the new bank engages in all banking activities.

The new bank will have total of 60 branches.