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Article: Ecuador: ABN Amro acquires 5% in Banco del Pichincha.
- Article from:
- South American Business Information
- Article date:
- February 16, 2001
CopyrightCOPYRIGHT 2001 COMTEX News Network, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Ecuador, Feb 16, 2001
ABN Amro has acquired a 5% state in the Ecuadorian bank Banco del Pichincha, paying US$5mil, as part of a strategy designed by JP Morgan and Morgan Stanley Barney, to replace direct investments by associations in selected markets such as Ecuador. ABN is to strengthen ties Pichincha a move that began with the passing on to Pichincha its local assets and liabilities. The next step will be the granting of a US$50mil credit to the customers of Pichincha engaged in foreign trade ...
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