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Banco de Bogotá has reached an agreement with Multi Financial Group (MFG), Panama’s eighth largest banking group by assets, to acquire 100% of its common capital for about $730 million dollars in an all-cash transaction. The proposed acquisition will add $5 billion to Banco...

Spain’s Mutua Madrileña insurance company has purchased 45% of Colombia’s Seguros del Estado, a private insurance company operating in Colombia. Seguros del Estado claims the #2 ranking in property and casualty insurance in Colombia. Mutua Madrileña also acquired an option to...

Bancoldex, Colombia’s development bank, has announced a new $50 million line of credit for microenterprises and small businesses to finance projects that reduce greenhouse gases, adapt to climate change, or mitigate environmental impact. The credit like has a term of up to 3...

US based American Agricultural Insurance Company (AAIC) has announced that it is now authorized to reinsure risks based in Argentina and Colombia through the broker marketplace. The company has been named an Admitted Foreign Reinsurer in Argentina and an Approved Reinsurer in...

Sempli, the Colombian online lending platform for small businesses, announced this week that it has secured $8 million USD in Series A venture capital, the round being led by Oikocredit and Incofin CVSO. Existing and new investors joined the round, including BID LAB (The...

Bayport Colombia, a “libranza” (payroll loan) company, executed a secured credit agreement for up to USD $150 million with a syndicate consisting of a Cerberus Capital Management affiliate, JPMorgan Chase Bank, and a large Canadian institutional investor. The syndicate was led by...

Blue Marble Microinsurance is renewing its weather index insurance program for smallholder coffee farmers in Colombia and expanding the coverage significantly.

Unisys Corporation (NYSE: UIS) today announced that Bancolombia (NYSE: CIB) has selected Unisys to support the bank’s digital transformation. Unisys will provide secure digital workplace service capabilities supporting more than 24,000 employees, including a help desk that...

Moody’s Investors Service has completed a periodic review of the ratings of Sura Asset Management, S.A. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody’s reassessed the...

Fitch Ratings has affirmed Credivalores Crediservicios S.A.S.‘s Long-Term Foreign Currency Issuer Default Rating (IDR) at ‘B+’ and Short-Term Foreign Currency IDR at ‘B’. The Rating Outlook was revised to Negative from Stable. Fitch also affirmed...