Guatemala's largest bank, Banco Industrial, has announced that it has bought its smaller competitor Banco de Occidente.Banco Industrial senior executive Diego Pulido, told media that after the purchase of the 71-percent stake in smaller Banco del Occidente, it will have assets of $2.9 billion, making it the fourth largest bank in Central America.
A source from a bank that also bid for Banco de Occidente told Reuters the deal was worth around $100 million.
