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Colombian financing firm Serfinansa gets green light for banking operations

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Colombian financing firm Serfinansa gets green light for banking operations

Colombian regulators granted permission to financing company Serfinansa SA to operate as a bank, according to a resolution filed by the Superfinanciera.

The Barranquilla-based financial company that is focused on credits for individuals and companies is majority-held by OLÍMPICA SA

In its resolution, regulators said that Serfinansa has the minimum capital legally required of them to operate as a bank. It also has technical and operative infrastructure, while it is also registered with the Guarantee Fund for Financial Institutions.

The request had been submitted in September 2018, with the approval of 95% of the company's board, according to a report from La República. Grupo Olímpica, which owns 81% of Serfinansa, is managed by the Char family.