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Bancompartir shareholders approve capital raise, new corporate governance norms

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Bancompartir shareholders approve capital raise, new corporate governance norms

Shareholders of Banco Compartir SA, known as Bancompartir SA, on Jan. 18 approved the acquisition of a technology platform, known as Core Bancario, and a capital increase of up to 25 billion Colombian pesos in 2017, the bank said in a brief with financial regulator Superintendencia Financiera de Colombia.

In a separate filing the same day, Banco Compartir said its shareholders approved a reform of its internal norms as part of the bank's voluntary commitment to comply with Colombia's new corporate governance standards.

This includes a reform that will oblige directors facing situations of conflict of interest to reveal their situation to the board, and a new article that requires the bank and its employees to comply with the new corporate governance recommendations.

Banco Compartir, formerly known as Financiera America, received a banking license in 2014 and launched operations in late 2015 with a focus on serving individuals and small businesses.

As of Jan. 18, US$1 was worth 2,930.63 Colombian pesos.