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"The zero tolerance policy has definitely made Guatemala a lot more attractive"
Franco Uccelli, Bear Stearns |
The country is a key missing link in international banks’ plans for a pan-regional central American presence.
A year after two Guatemalan banks closed, causing a meltdown in confidence in the banking system, it appears that the country’s financial institutions have finally learnt their lesson.
Alejandro Garcia of Fitch says: "The regulators realized, after the crisis, that they had to be more proactive than just reactive to give people the peace of mind they wanted in the banking system." Early last year the regulators issued new minimum deposit requirements...
