Type Private Headquarters Managua, Nicaragua | Industry Financing Founded 1952 | |
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Products Financial services, Banking Parent organization Grupo Aval Acciones y Valores Profiles | ||
Banco de América Central, BAC is a bank in the city of Managua, Nicaragua.
History
Founded in 1952 in Managua, BAC was the forerunner of what is now known as the BAC Credomatic Group (Spanish: Grupo BAC Credomatic). By the seventies, the bank ventured into the business of credit cards using the Credomatic brand.
In the mid eighties, the Group decided to enter other markets in the region, starting in Costa Rica with the acquisition of what is now known as Banco BAC San José. BAC Credomatic has presence all over Central America, as well as in Cayman Islands and The Bahamas, and credit card business in Mexico.
In December 2010, Grupo Aval completed the purchase of the BAC Credomatic banking group.
References
Banco de América Central Wikipedia(Text) CC BY-SA