Colombia’s financial supervisory authority has approved the integration of two major financial institutions in the country, closing the regulatory phase and allowing the operation to move into its implementation stage. With this decision, the activities that one of the entities maintained in Colombia, Panama, and Costa Rica are also authorized to be unified under a single financial group, which will now assume their administration.
According to the information released, the integration aims to consolidate a stronger regional structure, bring together operations that previously functioned separately, and leverage combined scale to strengthen the group’s operational and administrative capacity. The process also seeks to simplify the internal organization and more effectively align the strategies that each entity had been developing across different markets.
Regarding users, it has been indicated that existing financial products remain valid and that no additional procedures are required during the transition. Likewise, the service networks of both entities will be integrated progressively, expanding the availability of service points throughout the country.
With the approval from Colombia’s financial supervisory authority, the phase now begins in which the internal adjustments necessary to complete the integration will be carried out according to the timelines established by the institutions involved.
