Banking - Colombia - El Salvador

El Salvador approves Davivienda's HSBC acquisition

El Salvador approves Davivienda's HSBC acquisition

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El Salvador's financial regulator SSF approved Colombian bank Banco Davivienda's acquisition of HSBC's (NYSE: HBC) banking operations in El Salvador.

SSF also gave Davivienda authorization to change the names of HSBC's Salvadoran banking operations, the regulator said in a press release.

The acquisition is part of a larger take-over of HSBC's banking operations in Costa Rica, El Salvador and Honduras. Davivienda received approval for the operation from Colombia's financial regulator Superfinanciera last week.

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