- The banking operation is scheduled for this year;
- Currently in Colombia, BTG has more than $5 billion in assets under management.
Brazilian financial services provider BTG Pactual received authorization from the Financial Superintendence of Colombia to transform its brokerage in Colombia into an investment bank, a process similar to what was done in 2014 in Chile.
BTG Pactual told LABS that “from this movement, the bank will be able to increase its competitiveness in the investment bank market in Colombia, offering its customers a more complete range of products and services”. The operation is scheduled for this year.
The authorization was granted through BTG’s Chilean subsidiary. According to La República, the Colombian regulator authorized a subscribed and paid-in capital of COL 105 billion, of which 94.5% will be contributed by BTG Chile.