Banco Azteca, a subsidiary of financial services provider Grupo Elektra, has successfully obtained authorization to launch banking operations in El Savador, which will further strengthen its presence in Latin America.
The group received approval from El Salvador’s financial services commission. This represents the fourth license granted to Grupo Elektra to operate a bank in Central America, in addition to Panama, Guatemala and Honduras.
The El Salvador operation is expected to further improve the credit operations of the company in that country, as well as strengthen the overall growth strategy of Grupo Elektra in Latin America.
Once the banking operations are launched, the company aims to raise the living standards of the mid- to low-socioeconomic levels in El Salvador, as it has successfully done in Mexico and other countries in Latin America.