Small is beautiful.
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HSBC, a U.K. financial institution, agreed to buy for US$1.77 billion full control of Grupo Banistmo, a Panamanian financial holding company that controls the country's largest bank, Primer Banco del Istmo. Grupo Banistmo also owns banks in Costa Rica, Honduras, Colombia, Nicaragua and El Salvador. The recently signed DR-Cafta free trade agreement is driving business deals across the region. U.S. financial titan GE bought into the region through its...
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