According to the Netherlands-based banking group, both companies have similar ambitions and Paraguayan Banco Regional fulfilled the Rabo Development Program’s criteria, which drove both groups to enter into negotiations over a potential 40% stake.
Banco Regional is the fifth largest bank in Paraguay and has a balance sheet of approximately $220. The group has 15 offices, mostly located in the southeast of Paraguay and in the capital Asuncion. Although the group operates as a retail bank, it focuses specifically on the agri sector and has around 10,000 clients.
The official agreement is expected to be finalized in around six months.
