Financial group Grupo Financiero Delta has acquired 100% of local leasing company Capital Leasing & Finance for an undisclosed sum, according to a report in the daily newspaper La Prensa.
The acquisition positions Delta as one of the largest non-bank financial services providers in Panama, said Delta marketing director Otilia Chen.
Capital provides factoring, vehicle financing and personal loans, as well as auto and equipment leasing services.
The deal raises Delta's loan portfolio to more than US$35m and its client base to over 5,000.
"The automobile market performed very well [last] year and we hope to continue in the market and improve our margins," Chen said.
Source: BN Americas
