Finance Colombia » superfinanciera

Financial Entities Suspend “Commercial Relations” With EPM Citing Governance, Credit Concerns

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...

Posted On August 18, 2020

, By Loren Moss

Fitch Rates Banco GNB Sudameris’ Upcoming Tier 2 Notes ‘BB-(EXP)’

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)'.

Posted On May 25, 2020

, By Loren Moss

Colombian Government Now Picking A Fight With Über’s Insurer Allianz

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.

Posted On March 9, 2020

, By Loren Moss

Colombia’s Central Bank Holds Urgent Meeting To Review Deteriorating Global Economy: Coronavirus, Saudi-Russian Oil Price War, Falling Currency

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.

Posted On March 9, 2020

, By Loren Moss

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Colombian Telecom ETB Announces Results of $400 billion COP Tender For Outstanding 7% Senior Notes Due 2023

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...

Posted On December 23, 2019

, By Loren Moss

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Liberty Mutual’s Colombia Unit Sells Life Insurance, Occupational Risks Lines To Seguros Bolivar

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...

Posted On May 21, 2019

, By Loren Moss

Juan Carlos Mendoza - photo courtesy of Superfinanciera de COlombia

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Superfinanciera Appoints Economist Juan Carlos Mendoza as Delegate for Supervision of Market Risk & Liquidity

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...

Posted On May 12, 2019

, By Loren Moss

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1.1 Million Colombians Joined the Formal Financial System in 2017

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.

Posted On August 5, 2018

, By Jared Wade