Bancolombia S.A. Announces the Establishment of Nequi S.A. Financial Company
September 17, 2022 at 02:47 am IST
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Bancolombia S.A. announced the establishment and commercial registration of the corporation (sociedad anónima) Nequi S.A. Financial Company (Nequi), following the authorization received by the Financial Superintendence of Colombia disclosed to the market on August 1, 2022. Nequi is a company domiciled in Colombia whose purpose is to undertake the activities of financial companies. The next step in the process is to certify the fulfillment of all activities required to obtain the authorization certificate or operating permit from the Financial Superintendence of Colombia, upon request, which must be submitted no later than July 2023.
Grupo Bancolombia owns 100% of the equity interest in the capital stock of Nequi, with an initial investment of COP 150,000 million.
Bancolombia S.A. (Bancolombia) is a financial institution engaged in providing a range of financial products and services to a diversified individual, corporate, and government customer base throughout Colombia, Latin America and the Caribbean region. The Bank operates through 10 segments: Banking Colombia, Banking Panama, Banking El Salvador, Leasing, Trust, Investment Banking, Brokerage, Off Shore and All other. It delivers its products and services through its regional network comprising Colombia's non-Government owned banking network, El Salvador's financial conglomerate by gross loans, Guatemala's bank, Panama's bank and off-shore banking subsidiaries in Panama, Cayman and Puerto Rico, as well as subsidiaries in Peru. The Bank and its subsidiaries offer Savings And Investment, Ahorro A La Mano, Financing, Mortgage Banking, Factoring, Financial and Operating Leases, Capital Markets, eTrading, Cash Management, Foreign Currency, Bancassurance, Investment Banking and Trust Services.