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Private Capital in Nicaraguan State Bank

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(TODAY NICARAGUA)  Investment groups interested in buying shares of Banco Produzcamos have until June 30 to submit their bids.

As announced by the Nicaraguan government in April , about 60% of the shares of the state bank Produzcamos will be sold to private entities, who will have time to present their proposals for purchase up until June 30, according to the notice published in the La Gaceta, Official Journal No. 103 of June 4, 2015.

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Elnuevodiario.com.ni reports that “… In the ministerial agreement No. 10-2015, the Ministry of Finance authorized the board of Produzcamos to develop a process to transform the bank into a corporation of mixed nature, authorizing it to issue shares and to allow for the incorporation of private partners. Up until December 2014 the state financial institution had $116 million in liquid capital, a loan portfolio of C $1.251 billion and investments of C $2.861 billion. ”

“… Wálmaro Gutierrez, chairman of the Committee on Production, Economy and Budget, of the National Assembly, noted that with private sector participation Banco Produzcamos would have more resources for granting loans. ”

See here the publication in the La Gaceta .

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