LAFISE Bancentro Aims To Be First Nicaragua-Based Bank in South Florida

NICARAGUA NEWS — Banco LAFISE Bancentro aims to be the first Nicaragua-based financial institution in South Florida. Nicaragua’s largest bank filed an application on Oct. 24 with Federal Reserve Bank of Atlanta to establish a representative office in Miami.

If approved, Banco LAFISE will join 17 other international banking institutions in the state, according to the Florida Office of Financial Regulation.

economia_1The Nicaragua-based bank has offices throughout Nicaragua including Managua. Representative offices are very restricted in activity and the proposed Banco LAFISE outpost in Miami will act primarily as a liaison between the bank’s head office and customers in the U.S. in addition to performing preliminary and servicing steps linked to loans. Back office functions will also be possible at the Miami office.

- payin the bills -

The representative office will not include contracting for any deposit or deposit-related activities and will not lend money.

In a Dec. 31, 2013 presentation included in the bank’s application to the Federal Reserve Bank, Banco LAFISE claimed 236,237 customers, 1,488 employees, and 80 branches. In that year, Banco LAFISE oversaw $1.45 billion in assets, $1.08 billion in deposits, and $835 million in its gross loan portfolio.

In 2013, the bank reported a net income of $27.4 million, reflecting just over a 17 percent increase compared to 2012.

The bank is a subsidiary of LAFISE Group Panama, Inc., a corporation in the Republic of Panama. Roberto Zamora, president of the bank, has a 98.96 percent stake in LAFISE Group Panama, Inc.

- paying the bills -

LAFISE also has bank operations in Costa Rica and Honduras.

Related Articles

Nicaragua, the safest country to travel in the region despite Covid-19: Study

TODAY NICARAGUA - A study based on data from the WHO...

A Few More Ways to Convince Hesitant Friends and Family to Get Their Vax

VICE.com - As the New York Times reported Monday morning, public...

MOST READ

Better Air Connectivity Between Nicaragua and the US

The private companies' association is in talks with United Airlines to promote the opening of a route that connects Nicaragua with the east coast...

What Are Some of Nicaragua’s Popular Food?

TODAY NICARAGUA - Nicaragua is an interesting place, with a tumultuous history and a relatively peaceful present. and even if many things can be...

Bianca Jagger Gets Into The Nicaragua Act Again

(American Thinker)  Remember Bianca Jagger? You know, the disco queen and former rock-star's wife turned leftwing "human rights activist" who was last seen mourning...

Nicaragua Unveils Central America’s Largest Baseball Stadium

Nicaragua has unveiled its long-awaited baseball stadium in Managua, replacing the former baseball field built in 1948. The new structure will hold up to...

Nicaragua Praised by the IMF

The IMF noted the positive evolution of all the country's economic indicators, and the drastic fall in poverty, with an increase of 33% in...

Poll Shows Declining Expectations on a Nicaraguan Canal

According to the results of the most recent survey conducted by Cid Gallup, the Nicaraguan interoceanic canal project, a concession given to the Chinese...

Let's Keep This Going!

To be updated with all the latest news and information about Nicaragua and Latin America.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.