The Finance Bank (BDF), which belongs almost entirely to Panamanian businessman Staley Motta, will operate hand in hand with Banpro, they reported.
The Production Bank (Banpro), which is Nicaragua’s largest financial institution, announced the merger with the Finance Bank (BDF), which so far belongs almost entirely to Panamanian businessman Staley Motta, according to a statement on Monday.
It is not clear why the merger and the conditions under which Nicaraguan businessman Ramiro Ortiz and Motta agreed on this unification of financial institutions. What they do clarify is that to get this operation, a new financial consortium called New Banpro Tenedora, which will own both entities, was created.
They also clarified that both financial institutions will continue to operate the way they are doing so far.
This article has been translated after first appearing in La Prensa NI