BAC Credomatic is a financial group in
Central America
Central America is a subregion of North America. Its political boundaries are defined as bordering Mexico to the north, Colombia to the southeast, the Caribbean to the east, and the Pacific Ocean to the southwest. Central America is usually ...
, with operations in
Guatemala
Guatemala, officially the Republic of Guatemala, is a country in Central America. It is bordered to the north and west by Mexico, to the northeast by Belize, to the east by Honduras, and to the southeast by El Salvador. It is hydrologically b ...
,
El Salvador
El Salvador, officially the Republic of El Salvador, is a country in Central America. It is bordered on the northeast by Honduras, on the northwest by Guatemala, and on the south by the Pacific Ocean. El Salvador's capital and largest city is S ...
,
Honduras
Honduras, officially the Republic of Honduras, is a country in Central America. It is bordered to the west by Guatemala, to the southwest by El Salvador, to the southeast by Nicaragua, to the south by the Pacific Ocean at the Gulf of Fonseca, ...
,
Nicaragua
Nicaragua, officially the Republic of Nicaragua, is the geographically largest Sovereign state, country in Central America, comprising . With a population of 7,142,529 as of 2024, it is the third-most populous country in Central America aft ...
(where it was founded and former headquarters in the city of
Managua
Managua () is the capital city, capital and largest city of Nicaragua, and one of the List of largest cities in Central America, largest cities in Central America. Located on the shores of Lake Managua, the city had an estimated population of 1, ...
),
Costa Rica
Costa Rica, officially the Republic of Costa Rica, is a country in Central America. It borders Nicaragua to the north, the Caribbean Sea to the northeast, Panama to the southeast, and the Pacific Ocean to the southwest, as well as Maritime bo ...
(current headquarters),
Panama
Panama, officially the Republic of Panama, is a country in Latin America at the southern end of Central America, bordering South America. It is bordered by Costa Rica to the west, Colombia to the southeast, the Caribbean Sea to the north, and ...
,
Grand Cayman
Grand Cayman is the largest of the three Cayman Islands and the location of the territory's capital, George Town, Cayman Islands, George Town. In relation to the other two Cayman Islands, it is approximately 75 miles (121 km) southwest of L ...
,
The Bahamas
The Bahamas, officially the Commonwealth of The Bahamas, is an Archipelagic state, archipelagic and island country within the Lucayan Archipelago of the Atlantic Ocean. It contains 97 per cent of the archipelago's land area and 88 per cent of ...
, and the
United States
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...
.
History
Founded in 1952 in Managua as Banco de América Central, BAC was the forerunner of what is now known as the BAC Credomatic Group (
Spanish
Spanish might refer to:
* Items from or related to Spain:
**Spaniards are a nation and ethnic group indigenous to Spain
**Spanish language, spoken in Spain and many countries in the Americas
**Spanish cuisine
**Spanish history
**Spanish culture
...
: ''Grupo BAC Credomatic''). By the seventies, the bank ventured into the business of credit cards using the Credomatic brand.
In the mid eighties, the Group decided to enter other markets in the region, starting in Costa Rica with the acquisition of what is now known as Banco BAC San José. BAC Credomatic has presence all over Central America, as well as in the
United States
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...
,
Cayman Islands
The Cayman Islands () is a self-governing British Overseas Territories, British Overseas Territory, and the largest by population. The territory comprises the three islands of Grand Cayman, Cayman Brac and Little Cayman, which are located so ...
and
The Bahamas
The Bahamas, officially the Commonwealth of The Bahamas, is an Archipelagic state, archipelagic and island country within the Lucayan Archipelago of the Atlantic Ocean. It contains 97 per cent of the archipelago's land area and 88 per cent of ...
.
In 2004 The Group started its credit card operations in Mexico, which was later sold to Banco Invex in 2016.
In December 2010,
Grupo Aval completed the purchase of the BAC Credomatic banking group.
In 2016, Credomatic de México S.A. de C.V., a subsidiary of BAC International Inc., signed a contract to transfer to Banco Invex S.A. its Mexican credit cards business
In 2017 the group started to use BAC Credomatic as brand for all their bank and credit card services, using a new modern logo.
See also
Grupo Aval Acciones y Valores
External links
*
“BAC está en el mejor momento de su historia” - Economía Diario El MundoBac Unifica marca
References
{{DEFAULTSORT:Banco de America Central
Banks established in 1952
Banks of Nicaragua