Citibank completes bank takeover in Nicaragua

September 19, 2008

With the goal of strengthening Nicaragua´s credit card market, U.S. financial group Citibank has finalized the process of integrating into the national financial system by converting Grupo Financiero Uno to Citibank de Nicaragua.

Citibank, which acquired Nicaragua´s Grupo Financiero Uno in 2006, already operates in neighboring Honduras and El Salvador.

Citibank de Nicaragua, with its new cash machines and other financial services inherited from Grupo Financiero Uno, will attend to 140,000 clients in Nicaragua, including 1,200 employees nationwide, according to the daily La Prensa.

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