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Thread: Need help for school report - banking in nicaragua!!

  1. #1

    Default Need help for school report - banking in nicaragua!!

    Hey Everyone!


    I'm really new to this site. I'm working on a research paper about banking in Nicaragua and saw the story that you posted. I'm from New Jersey, USA, so I have no clue about the banking system in Nicaragua. It seems really hard online to find any information. Here's what I need to know:


    • What are the top five largest banks in Nicaragua. I know BAC, Citi, and Banco Centro are large, but what are the others?
    • Do you know any wealthy families that have ties with any of the above banks?


    Thanks,

    SoapSuds

  2. #2
    TRN Science officer bill_bly_ca's Avatar
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    Default Re: Need help for school report - banking in nicaragua!!

    Quote Originally Posted by SoapSuds View Post

    • Do you know any wealthy families that have ties with any of the above banks?
    I wish I did..

    Seriously, BAC is part of the Pellas dynasty..
    ==================================================
    Dude !!!.... Its a Canal !!! Can you Dig it ??

  3. #3
    Para aquí para acá Jonh's Avatar
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    Default Re: Need help for school report - banking in nicaragua!!

    Welcome, and you've come to a good place to find that info. The Pellas family is indeed the answer to question 2. http://www.grupopellas.com/empresas.htm

    I'm not sure there are as many as five banks. BAC, BanPro (Banco de la Produccion), BanCentro, I think one of those merged. If you include foreign banks there should be at least five.

  4. #4

    Default Re: Need help for school report - banking in nicaragua!!

    According to the US Embassy Website for Nicaragua, the top five largest banks are:


    Banco de América Central (BAC)
    Banco LAFISE BANCENTRO
    Citibank
    Banco de la Producción (BANPRO)
    Banco de Finanzas (BDF)
    Banco ProCredit

    Seem accurate?

  5. #5
    Para aquí para acá Jonh's Avatar
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    Default Re: Need help for school report - banking in nicaragua!!

    Yes, seems accurate. What else do you need to know about 'em? Most of us have had transactions with them. Some random thoughts:

    Armed guards at the door (may or may not have ammo in their AK47s)
    Weapon checks inside
    Long lines
    People pay their electric bill there
    ATMs are sometimes in air conditioned vestibules off the sidewalk for safety and comfort
    You can use an American bank-issued Visa or MC debit card at the ATM and get Cordobas out
    Non-residents need a passport for transactions (not just driver license)...

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    Dog Whisperer cookshow's Avatar
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    Default Re: Need help for school report - banking in nicaragua!!

    Or maybe you could research how few Nicaraguans use a Bank. I have friends here my age (44) that have never stepped foot in a Bank.

    Nicaragua is a Cash Society, and many people just have no need for a bank.
    ‎"You know what you say when people tell you you can't do something? Fool, shut your mouth up!"
    Ernie K Doe

  7. #7

    Default Re: Need help for school report - banking in nicaragua!!

    Thanks for the info. I basically need to know what other wealthy influential families are in Nicaragua. It seems pretty difficult to find any information about Nicaragua online. I know that the Pellas are up there, but are there any others? Are there any other political families that have ties to the banks or the finance industry?

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    Default Re: Need help for school report - banking in nicaragua!!

    Quote Originally Posted by cookshow View Post
    Or maybe you could research how few Nicaraguans use a Bank. I have friends here my age (44) that have never stepped foot in a Bank.

    Nicaragua is a Cash Society, and many people just have no need for a bank.
    another reason a lot of nicas dont have a bank acct. is the minimum needed to open a acct..bancentro $ acct $100..i think cords are around 1500 cords..most nicas cannt come up with that kind of money to sit in a bank..makeing very little interest

  9. #9
    Viejo del Foro Just Plain John Wayne's Avatar
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    Default Re: Need help for school report - banking in nicaragua!!

    Quote Originally Posted by acc724 View Post
    another reason a lot of nicas dont have a bank acct. is the minimum needed to open a acct..bancentro $ acct $100..i think cords are around 1500 cords..most nicas cannt come up with that kind of money to sit in a bank..makeing very little interest
    And some over here that found a GIFT FROM GOD a floating on the sea are afraid to put it in the bank...
    To be called a "Has Been" I must surmise, is much Greater than to be called a "Nevah Been"... JW...



  10. #10
    Para aquí para acá Jonh's Avatar
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    Ortega is THE main wealthy family in Nicaragua.

    There are some other prominent families with Pellas-like empires but the names escape me.

  11. #11
    Viejo del Foro Just Plain John Wayne's Avatar
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    Default Re: Need help for school report - banking in nicaragua!!

    There are about 12, and as I presntly work for them, Well, some of them anyway, I am gone keep my mouth shut on some things...
    To be called a "Has Been" I must surmise, is much Greater than to be called a "Nevah Been"... JW...



  12. #12

    Default Re: Need help for school report - banking in nicaragua!!

    Quote Originally Posted by SoapSuds View Post
    Thanks for the info. I basically need to know what other wealthy influential families are in Nicaragua. It seems pretty difficult to find any information about Nicaragua online. I know that the Pellas are up there, but are there any others? Are there any other political families that have ties to the banks or the finance industry?
    Zamora is the main family with LAFISE/Bancentro
    Ramiro Ortiz is the main man at Banpro
    BDF is supposedly owned by the Military

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