The Chilean company Saieh, owner of Corpbanca closed the deal of the buying the operations of Santander Bank in Colombia.
The announcement was made 6 months ago, but the executives of the Chilean bank were in Colombia this week closing the deal with the approval of the Chilean and Colombian regulator for this acquisition.
Corpbanca already opened 6 offices in Colombia and according to one of the executives of the bank they are starting the formalities in order to get the approval for the change of name and nickname from Santander to Corpbanca. Either way the Chilean company stated that the transition won’t be problematic for the clients of the bank due to they will be maintaining the product lines of the Santander for their customers and also will be offering new services trying to hit into the PyMEs, the Preferential Bank model and want to improve the involvement of the bank into a high impact development plans in the country and in the valuation of the banking services for the Business line.
Corpbanca is a bank which is between the companies that have been showing most growth in the last few years with credit placement for 13 billion dollars and with a 8.10% market share in Chile.