Partners Roxana Romero and Mario Ayala of the Firm´s Banking and Financial Division advised Banco Azteca from Mexico in the process of obtaining the license to incorporate and operate Banco Azteca El Salvador, S.A.
Banco Azteca El Salvador, S.A. is the first bank created in El Salvador after the boom of acquisition of local banks by foreign banks.
The participation of the Banking and Financial Division of the firm consisted in the study, preparation and coordination of all the process for obtaining the license to incorporate and operate Banco Azteca El Salvador S.A., before all the supervising entities, such as the Superintendency of the Financial System, Central Bank of Reserve, Deposit Guarantee Insitute, Salvadoran Stock Exchange, among others. In addition, the firm rendered legal advise to the new Bank in all related areas at all levels in the phase of inititation of operations.
Banco Azteca is part of Grupo Salinas, one of the most succesful and important business groups in Mexico, formed by TV Azteca, Iusacell, Unefon, Salinas y Rocha, among others.
The incorporation of Banco Azteca El Salvador, S.A. is part of the international expansion of Banco Azteca. The Bank has initiated operations in Guatemala, Honduras, Brazil, Argentina and Peru.
El Salvador has become one of the favorite financial markets in the area for prestigious international banks that have acquired almost all of the existing local banks operating in the country. The incorporation of Banco Azteca El Salvador, S.A. brings a true added value to the Salvadoran financial system.
