CORPBANCA ACQUIRED THE FIDUCIARY BUSINESS OF SANTANDER IN COLOMBIA

CORPBANCA ACQUIRED THE FIDUCIARY BUSINESS OF SANTANDER IN COLOMBIA

The Chilean company Corpbanca which a few months ago bought the operations of the Santander Bank in Colombia keeps buying assets in the country.

Now was the turn of the Santander Investment Trust Colombia, which is a fiduciary, that was managed by other Chilean company called CorpGroup Interhold Limited.

The operation rise up to 44.4 million dollars according to the analysts and was for the 94.50% of the shares of the company that manage fiduciaries.

The operation also was approved by the Superintendence of Finance and also approved the change of name of the company by the end of the year.

Is worth mentioned that with the acquisition of the fiduciary business, Corpbanca has 3 businesses in Colombia. The other two that did not mentioned are the banking business that bought for 1.225 million dollars and the company Santander Investment Values Colombia, which is managed by CorpBanca since 2002.

The idea of the Chilean company is to strength their operations in the country in order to have the capability to compete in the Colombian banking business.