97
www.ebizguides.com
Finance
financial situation, its financial and non-financial
products as well as studies and reports of different
productive sectors of the country. Furthermore, there
is the most relevant detailed news of BMI such as its
programs and current institutional agenda.
The BMI-Intermediaries webpage provides specialized
information about the BMI’s financial and non-financial
instruments that intermediaries need to know.
Regulations, processeses and on-line services have
alsobeen included inorder to facilitateBank operations;
and a section of specific announcements and notices
that are of great interest to the intermediaries is also
there.
BMI is expanding its capital over the next 5 years
from $USD 35 to $USD 100 million to tackle the
challenges that await them as a public bank.
“We want to have a greater presence in the local
financial market and become the instrument under
which the government launches its plans.”
Ricardo Mora, President
SCOTIABANK EL SALVADOR
Robert Williams
Vice-President
Centro Financiero 25, Av. Norte y 23 Calle Poniente
1230, San Salvador
Tel: (+503) 2234 4809 / 2234 4508 / 2234 4577
Fax: (+503) 2234 3464
Robert.williams@scotiabank.com.sv
www.scotiabank.com.sv
Activity: Bank
Date of creation: 1997
Employees: 1800
The Bank of Nova Scotia (Scotiabank) was founded in
1832 in Halifax, Nova Scotia, Canada to support the
booming trans-Atlantic commerce of Great Britain,
North American and the Antilles. Soon, the bank
appointed agents in New York, Boston and London,
revealing their aspirations in the international arena.
By the end of the 1800s, Scotiabank had spread
throughout the United States and Jamaica, and in
early 1900 had established a network of branches
across Canada. Mergers with four banks between
1882 and 1919 accelerated this expansion.
Scotiabank opened its first Central American branch in
Belize in 1968 and later in 1974 it opened in Panama.
The bank was established in Costa Rica in 1995 and
in El Salvador in 1997. In 2000 the Scotiabank Group
presence in Central America was strengthened
through banks in which it has majority ownership:
Scotiabank, Scotiabank El Salvador and Scotiabank
Costa Rica.
Scotiabank El Salvador, S.A. was established on
October 8, 1997when it formalized a strategic alliance
with the Bank of Nova Scotia, an international bank
with over 100 years of experience and a presence
in over 50 countries around the world, and Ahorros
Metropolitanos, S.A. (Ahorromet), a financial
institution with over 25 years of experience within
the local market.
In January 2005, Banco de Comercio de El Salvador
and Scotiabank El Salvador joined their operations
and integrated their forces to become one single
bank. This new merger permitted them to offer a
better, more solid, bank to their customers, with
greater coverage, much stronger resources and
more in-touch with their clients’ needs. Thanks to
the merger, the new Scotiabank of El Salvador offers
international standards of excellence being the 2nd
or 3rd largest bank in the country and leading with
36% of the national mortgage market.
“Our country has an excellent location that allows it
to be a logistics hub on the international level and
our staff is very dedicated. We love working and do
not mind hard work. San Salvador has the highest
concentration of businesses, but Zacatecoluca,
Santa Ana and San Miguel are cities that are not yet
being developed but have great potential.”
Robert Williams, Vice-President
WESTERN UNION – AIRPAK
Lic. Alberto R. Parker
General Manager
Alameda Roosevelt 2419, entre 45
y 47 Av. Sur, San Salvador
Tel: (+503) 2250 8600
Fax: (+503) 2298 6183
aparker@airpak.com.sv
www.westernunion.com
Activity: Money transfer
Date of creation: 1991
Employees: 100