European Financial Institutions Active In Colombia

Lloyds Bank's informed about its plan to increase in 10 to 15 percent its participation in the shares of Banco Anglo Colombiano which was approved by the Banking Superintendency of Colombia.

The Standard Chartered Bank recently acquired the Banco Extebandes in an operation reported at US164 million.

The Banking Superintendency of Colombia also authorized the establishment in Colombia of a representative office of MAPFRE RE, a Spanish Reinsurance Company. The authorized activities for representative offices of foreign reinsurance companies are limited to the acceptance or assignment of reinsurance obligations.

Prepared by JOSE LUIS SUAREZ from Gomez Pinzon & Asociados, Bogota, Colombia.