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The bond aims to attract international finance to the region and "meet the growing demand of clients in local currencies," said IDB Invest.

Bladex reported profits of $16.6 million USD in the quarter — up from the first quarter, but a drop from the $17.5 million USD in the second quarter of 2017.

The demand shows "the confidence of the market in Itaú,” said Derek Sassoo of Banco Itaú Colombia.

Bancolombia topped the rankings in 2017, but fell one spot to second place in this year's Merco report.

Ongoing progress to adopt Basel III standards in Colombia should improve both the credit profiles and capital adequacy of banks, said Fitch Ratings

Applications are being accepted through June 11 from organizations that have launched a project, product, or service with “proven social impact.”

Colombia’s Commerce Minister María Lorena Gutiérrez said last week that the issuance could be later be extended by another $35 million USD.

The decision "constitutes a reaffirmation of a policy in line with improving quality of life of our population," said Bancóldex head Mario Suárez.

The client portal was rolled out on May 15 to offer an overview of the available services offered to SMEs by Bancolombia and a library of informational resources.

Héctor Cateriano, partner and CEO of MAS Equity Partners, brings 20 years of private equity experience to his leadership of ColCapital.