Central America
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Central America

Grupo Cuscatlán

Grupo Cuscatlán is becoming a truly regional bank in central America. With big operations in El Salvador, Honduras, Costa Rica and Panama, it shows no sign of slowing its buying spree. It recently bought all the assets of Lloyds TSB in Guatemala, Honduras and Panama, and then announced a capital injection of over $100 million from the sale of a 20% stake to Popular, the biggest bank in Puerto Rico. Profits in 2004 reached $64.7 million, a huge increase from the $29.7 million reported in 2003.

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