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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 new Colombian tech-forward bank offers interest bearing business accounts with no transactions or maintenance fees, and a 100% digital services portfolio, says Iris CEO, banking industry veteran Lorenzo Garavito.

EPM has received notification from local and international financial entities of the suspension of commercial relations, resulting in the reduction of quotas and credit limits in operations such as loans, exchange risk hedges and bank guarantees, after the board of directors quit...

Fitch Ratings has assigned Banco GNB Sudameris S.A.'s (GNB) upcoming issue of U.S. dollar-denominated, 11-year Tier 2 notes an expected long-term rating of 'BB-(EXP)'.

Immediately after ride hailing platform Über announced its return to Colombia with an altered operating model, Colombian regulator Supertransporte, or the Superintendence of Transportation has announced that it is going after its insurer, global insurance giant Allianz.

Colombia's Central Bank, Finance Ministry, and Financial Regulator met today to discuss the rapidly deteriorating global financial situation fueled by coronavirus, outbreak of petroleum price war, and a falling currency value.

Empresa de Telecomunicaciones de Bogotá S.A. E.S.P. announced earlier this month the final tender results in connection with its previously announced offer to purchase for cash up to $400,000,000,000 COP in aggregate principal amount of its outstanding 7.00% Senior Notes due 2023...

Liberty Seguros, subsidiary of US based Liberty Mutual Insurance Group, is selling its group, labor and individual life insurance business in Colombia to local insurer Seguros Bolivar. Finalization of the transaction is subject to the approval of Superfinanciera, the Financial...

Colombia’s financial superintendent Jorge Castaño Gutiérrez has appointed the economist Juan Carlos Mendoza as the delegate for the Supervision of Market Risk and Liquidity for Superfinanciera, Colombia’s financial regulatory body. Mendoza worked for more than 10 years in the...

This figure represents an 11% uptick in the number of new entrants to the system compared to the 999,000 people who secured financial products for the first time in 2016.