Lulo Bank From Gilinski Group Approved For Operation By Colombian Financial Superintendence

Superfinanciera, Colombia’s financial superintendence yesterday published a notification that it has issued a certificate of operation to Lulo Bank S.A. Based in Bogotá, Lulo will be a 100% digital “neobank” and part of the Gilinski family’s GNB Sudameris Colombia Financial holding company, joining subsidiaries:

• Banco GNB Sudameris
  

  Though Lulo Bank has reportedly hired over 220 employees, as of press time, its website does not function.

• GNB Sudameris SA
• Servibanca ATM network
• Banco GNB Peru
• Banco GNB Paraguay
• Servivalores GNB Sudameris (stockbroker)
• Servitrust GNB Sudameris

The bank will launch with almost $27 million USD of capital, and operate digitally, through apps, its (currently inoperative) website, and Gilinski group’s Servibanca network of ATMs (Automated Teller Machines) throughout Colombia.

The Gilinsky group has appointed Santiago Covelli as CEO of Lulo Bank.

The bank’s namesake, a lulo (above), solanum quitoense, is a tasty fruit with green flesh native to Colombia and popular in flavorings and as a beverage.

Photo: Wikipedia, unknown author