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Itaú Colombia in talks to sell stake in small Panama subsidiary

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Itaú Colombia in talks to sell stake in small Panama subsidiary

Itaú Comisionista de Bolsa Colombia SA is in discussions to sell its entire stake in Panama-based unit Itaú Casa de Valores SA, according to a statement from Itaú CorpBanca Colombia SA.

The decision to sell the subsidiary is based on a business strategy that involves searching for opportunities that provide greater value to clients, the company said, adding that a sale agreement has not been signed yet.

As of Nov. 30, Itaú Casa de Valores had total assets of US$777,337 and an accumulated profit for the year of US$117,718. It has 10 employees.