e.leon jimenes - bancredito

getonwithit

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Mar 17, 2003
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not going to spread any rumours, just in case i get arrested, but what's this all about e.leon jimenes (the little guys) buying out bancredito (the big guys)............................................the dominoes are falling a little faster all of a sudden!
 

getonwithit

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Mar 17, 2003
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lots and lots of money......................but buying a bank. i don't remember them having any real banking experience.
 

Golo100

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Jan 5, 2002
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Not rumor

The negotiation for the merger of Banco Profesional and Bancredito which had been going on for about a month is now official. The agreement has now been taken to the monetary board and a quick approval of the deal is a sure thing.

In addition, Bank of Nova Scotia is negotiating buying Baninters credit card business and other parts of their banking business.

The reason for the downfall of Bancredito into Banco Profesional, which is owned by E. Leon Jimenez, the tobacco king and Cerveza Presidente key shareholders is the recent rash of withdrawals from Bancredito. The merger according to Jose Lois Malkum, will take pressure from Bancredito and reduce the rumors which are leading to the withdrawals.

TW
 

ERICKXSON

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Dec 24, 2002
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www.creambay.com
i guess they decide to add a new name to their roster of businesses.

and from now on you can buy cerveza and cigarrillos at the nearest ATH (ATM in SPANISH)
 

Robert

Stay Frosty!
Jan 2, 1999
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dr1.com
It's good news for Bancredito customers to know a solid well run business is potentially now behind them. DR1 is a Bancredito client :)
 

getonwithit

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well i hope you are right, but if i were a bancredito customer i think i would be a little bit nervous.
baninter has been quoted as having been the third biggest bank, bancredito, easily in the top half of the table, banco profesional on the other hand would have been lucky to break the top twenty.
all-in-all, it suggests to me that bancredito was sold cheaply, possibly because it?s not worth very much at the moment....................but i'm not saying any of this, because i don't want to spread any rumours!
 

ERICKXSON

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Dec 24, 2002
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www.creambay.com
E. Leon Jimenez company was trying to buy businesses they were or are on the bid list for El Listin Diario and other entities i don't think they were bought very cheaply i think a good offer was made and it got sold.
 

getonwithit

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Mar 17, 2003
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yes...you are probably right.
though, listin diario was part of the baninter scandal, and that is a good reason for it, possibly, to be up for sale.
bancredito doesn't have a lot to do with any of that - so if it is in a healthy state, why sell it.
i really don't know......and what about segna, tricom, telecable, zona franca san isidro, el diario libre.....aren't they all owned by bancredito. are they all included in the deal?
i'm not suggesting anything sinister, it's just that i am very curious.
 

Golo100

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Jan 5, 2002
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Bancredito

Diario Libre is a Bancredito business. When you go into their web page www.diariolibre.com it opens up automatically into Bancredito*s web page.

Diario Libre is part of a conglomerate of magazines like revista Ahora and others. This group is called Omnimedia and has offices on Lincoln Avenue, Piantini.

Omnimedia is at this moment a profit making business. Diario Libre has a positive balance. It is not like Ultima Hora, a deficit producing business for Baninter.

However, Ultima Hora was in my opinion, the best of the free papers. Diario Libre is very good too.

Bancredito is also part of the Tricom and the Pellerano Group. I have a good chunk of $$$ in Bancredito. I am gambling for a couple of more days, perhaps till the end of the month. The gamble may be worth it. Then again, I may lose it all. I trust the Asencios, E. Leon Jimenez and cerveza Presidente. I just have a terrible fear of Hipolito Mejia, the biggest liar and inept president in our history, and he can send his goon squad for me, if he wants.(He lied 47 times in public and has managed to bankrupt our country with his inept cabinet and corrupt officials, some of whom are in jail now and almost a dozen of his Ayundantes killed or in jail in corrupt action)

TW
 
Apr 26, 2002
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Does anyone know if Scotiabank will be buying the branch banking business of Baninter? I think it would be desireable if there were more branches of Scotiabank.

With the elites like E. Leon Jimenez losing giant portions of their net worths because of Hippo, I wonder how much $$ they will throw behind his opponents? Or will they figure it best to throw giant sums of $$ at Hippo too, just in case?
 

getonwithit

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Mar 17, 2003
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Re: Bancredito

golo said:
....... the Pellerano Group.....

....and there we have it. i agree with everyone, e.leon jimenes is a very respectable "group", but that isn't where any nervousness, if any, should be focussed.
maybe, i'm a bit slow on the pick up, but doesn't it appear that the people who have off-loaded the bank could be the ones who are in trouble. perhaps that is already well-known, but i am still not sure why they would sell a bank if it was in a 'good state'. i don't think a recent rash of withdrawals is a strong enough reason.
i'm not suggesting anything like the baninter melt-down, but nobody wants to see another big bank go, especially so soon after baninter. i wonder what promises e.leon jimenes has been given to keep this bank propped up. they are certainly the people to do it, but i am sure it will be scaled down a lot.
.................................however, just in case we are being watched - i'm not speculating. 'onest!
 

Sanson

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Apr 14, 2003
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Does anyone know if Omnimedia, Enel.net, and Zona Franca San Isidro are part of the agreement between Banco Profesional and Bancredito? Thanks.

By way, Golo, when you were talking about Omnimedia`s magazine, you meant Rumbo, not Ahora!. Ahora is from Corripio Media`s group.
 

Hillbilly

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Jan 1, 2002
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Please remember a few facts

Years and years ago, the top people at L. Le?n Jim?nes (correct spelling), started Financiera Profesional. I'm talking about all the Le?nes, Wachman, Mustaf? and the rest. They were an excellent finance company and extremely profitable. With the new banking laws, they evolved into a multi-bank, and became Banco Profesional. They have 20 or so years of experience, a very good personnel program and lots of experience. With the take-over of Bancredito they obtain lots more exposure, lots of branch offices and a solid banking entity.

Rest easy if you have money there, as it will be well managed.

HB