The institution – formerly called Banco del Istmo – had total assets at the end of the first quarter of $8.8bn, almost double the $4.5bn it had in 2003, a spurt in growth that reflects an intense campaign of mergers and acquisitions.
In the most recent takeover, completed this February, Banistmo bought 54% of the shares of Inversiones Financieras Bancosal, El Salvador’s third biggest bank involved in remittances, credit cards and investment banking.