Foreign lenders dominate in El Salvador - S&P
More than 90% of the assets in El Salvador's banking sector are controlled by foreign-owned lenders, according to S&P.
About half of the assets belong to lenders that are controlled by Colombian banks, said S&P in a report affirming the country's ratings.
Large banks from Colombia have, over the last several years, expanded abroad with a strong focus on Central America and this has given them a big share of the El Salvadoran market.
This week Citibank informed banking regulator SSF of an agreement to sell its retail banking and insurance operations in El Salvador to Honduras-based Grupo Terra.
S&P said the El Salvador's banking sector is well capitalized and highly liquid and non-performing loans stand at around 2.4%.
The ratings agency added that the full dollarization of the economy has brought stability to the financial system but it also means that the country does not have a lender of last resort in the event of a banking crisis.
S&P affirmed El Salvador's long and short-term credit ratings at 'B+' and 'B', respectively, with a stable outlook.
Read BNamericas' 2016 outlook for Colombian banks and the banking sector in Latin America.
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
News in: Political Risk & Macro (Colombia)
LatAm mining reps talk sector challenges in Santiago
At the Expomin conference, representatives from Argentina, Brazil and Colombia, among others, debated problems of particular jurisdictions and how ...
Colombia govt, artisanal miners sign peace agreement
A major strike in Cauca and Antioquia, allegedly involving a cartel, turned violent in response to a military offensive against illegal gold mining.
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects
Get key information on thousands of projects in Latin America, from current stage, to capex, related companies, key contacts and more.
- Project: Peuco Photovoltaic Park
- Current stage:
- Updated:
15 hours ago
- Project: CloudHQ Paulínia data center (GRU technological campus)
- Current stage:
- Updated:
15 hours ago
- Project: Diablillos
- Current stage:
- Updated:
15 hours ago
- Project: Installation of Sixth (VI) Generation Unit (Central Termoeléctrica Barranquilla, Termobarranquilla)
- Current stage:
- Updated:
1 day ago
- Project: Caballos
- Current stage:
- Updated:
1 day ago
- Project: Alameda - Melipilla railway (Melitren)
- Current stage:
- Updated:
15 hours ago
- Project: Mina San Francisco
- Current stage:
- Updated:
14 hours ago
- Project: Encierro
- Current stage:
- Updated:
9 hours ago
- Project: Sol do Canindé photovoltaic power plant
- Current stage:
- Updated:
1 day ago
- Project: Los Llanitos y Jicatuyo hydropower plants
- Current stage:
- Updated:
1 day ago
Other companies
Get key information on thousands of companies in Latin America, from projects, to contacts, shareholders, related news and more.
- Company: Masivo Silver Corp.
-
The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...
- Company: Tuberfil Indústria e Comércio de Tubos Ltda.  (Tuberfil)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Emgesa S.A. E.S.P.  (Emgesa)
-
Emgesa S.A. E.S.P. is a Colombian company engaged in power generation for the wholesale market and industrial clients from the deregulated market. The company was incorporated i...
- Company: Energy Head
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Servicio de Salud Maule
-
Maule Health Service is the health service agency overseeing Chile's Maule region (VII). Its network includes 84 medical establishments, including 13 general hospitals. It is ov...
- Company: Grenergy Renovables Pacific Ltda.  (Grenergy Chile)
-
Grenergy Renovables Pacific Ltda. (Grenergy Chile) is the Chilean unit of Grenergy Renovables SL, a Spanish company that builds and operates PV and wind power plants. The compan...
- Company: Salgado, Melendez y Asociados Ingenieros Consultores S.A.  (Salgado, Melendez y Asociados Ingenieros Consultores)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Consorcio GA Energy Services, Coopsa Ambiental, Measure Solutions, Nuova Ghizzoni, Sicilsaldo
-
GA Energy Services Consortium, Coopsa Environmental, Measure Solutions, Nuova Ghizzoni, Sicilsaldo is a company made up of Coopsa Ambiental S.A. de C.V., GA Energy Services, S.A...
- Company: Petroserv Marine Inc.  (Petroserv)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Enterprize Energy Pte. Ltd.  (Enterprize Energy)
-
The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...