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Banco Davivienda creates leasing unit after Leasing Bolivar merger

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Banco Davivienda creates leasing unit after Leasing Bolivar merger

Afterformalizing its takeover of Leasing Bolívar SA in January, Colombia's hasestablished its own leasing unit known as Davivienda Leasing SA, according to anews release.

Thenew unit will offer financing for cargo and passenger vehicles, commercialbuildings and industrial machinery, among other items.

Daviviendashareholders approvedthe merger in September 2015 after the bank's board authorized the start ofmerger proceedings in June. At the time, the company said that the process wasexpected to take up to six months.