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BCT Bank International completes absorption of Panama's Balboa Bank & Trust

Grupo Financiero BCT has completed the operations merger of Panama-based Balboa Bank & Trust Corp. and BCT Bank International SA, El Capital Financiero reported.

The merger of the banks' technology platforms wrapped up Sept. 2, with the products of Balboa Bank & Trust migrated to BCT Bank International.

The financial group acquired Balboa Bank & Trust in October 2017, following the bank's reorganization after facing sanctions from U.S. authorities over alleged ties to a Panama-based money-laundering network.