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HSBC Bank Panama to acquire Financomer
26 August 2005
HSBC Bank (Panama), S.A. has signed an agreement to acquire the group of consumer finance companies trading under the brand name Financomer.
The Financomer group, which had gross assets of USD$ 41.5 million at 31 December 2004, entered the personal lending market in Panama in 1989 and currently has 129 employees, 12 branches and 13,000 customers.
This transaction remains subject to regulatory approval.
HSBC has been present in Panama since 1972. HSBC Bank (Panama) S.A. has 16 branches and 54 ATMs, distributed between the cities of Panama, Colon, Aguadulce, Chitre and David providing a full range of banking products and services including commercial and consumer banking, HSBC Premier, private banking, and corporate banking.
Read the full press release (1 page pdf 11k).
Media enquiries to pressoffice@hsbc.com
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