The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Colombians eye central America

Not content with the blossoming pan-Andean financial market, Colombian banks and corporates are looking north to central America for opportunities for growth and as a means to forge a path to the lucrative markets of Mexico and the US.

Colombian entrepreneurs are turning their attention to central America as opportunities in Venezuela dry up. Ten years ago, Venezuela was Colombia’s second-biggest trading partner after the US. However, tensions between the former Colombian president, Alvaro Uribe, and the Venezuelan president, Hugo Chávez, led many Colombian groups to pull back from Venezuela. They turned their sights towards central America, particularly Panama, Guatemala, Costa Rica and the Dominican Republic. The Colombians have invested heavily in financial services and energy in the region.

Today, investment bankers say that there is such strong integration between Colombia and central America that banks that do not have a local commercial presence in the region increasingly regard the Andean and central American region as one.

"It is no exaggeration to say that a single market is developing between the Andean region and central America," says Ricardo De Bedout, country executive for Colombia at Bank of America Merrill Lynch. "Many investment banks that have representative offices in countries in the region increasingly see central America and Colombia as a single market. Culturally, they have a great deal in common and geographically they are in close proximity. Colombian companies have also realized that many industries in central America are under-penetrated and see the opportunities in the region, which they look at as a whole."

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree