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Non-Tech : Banco Industrial Colombiano ADR NYSE:CIB

CIB 58.04

+0.3%

Oct 31 9:30 AM EST

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To: Arnold Layne who wrote (20)	3/31/1998 4:43:00 AM
From: Arnold Layne	Read Replies (1) of 72

Just who owns those Banks...... Foreign investors hold 27.3 pct of Colombia banks BOGOTA, March 30 (Reuters) - Foreign investors own 27.3 percent of Colombia's banking system -- equivalent to assets of about 11.6 trillion pesos -- the National Association of Financial Institutions (ANIF) said Monday. ANIF based its calculation on a study of Colombia's 13 leading banks. It highlighted the purchase of a 40 percent stake in Banco Ganadero <BGA.BG> by Spain's Banco Bilbao Vizcaya <BBV.MC> in 1996 and the purchase of a controlling stake in Bancoquia <BCA.BG> by Banco Santander <SAN.MC> last year. ANIF did not give any comparative figures of foreign ownership of Colombian banking assets in previous years. But a report published by the banking superintendency in December 1996 said 18.4 percent of Colombia's banks were in foreign hands -- equivalent to assets of 5.11 trillion pesos. 18:38 03-30-98

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