Mexico's Banco Azteca Starts Operations In El Salvador

MEXICO CITY (Dow Jones)--Mexico's Banco Azteca said Friday it began operations in El Salvador, continuing its expansion in Latin America.

Banco Azteca, a unit of retail and financial services concern Grupo Elektra (ELEKTRA.MX, EKT), said it started operations with 29 branches across the Central American country. Banco Azteca, which pioneered consumer loans to low-income customers in Mexico, has expanded to include operations in Brazil, Guatemala, Honduras, Panama, and Peru.

In El Salvador the bank will offer loans, savings and investment accounts, and other services. Banco Azteca said it has more than 9 million credit accounts and 8 million deposit accounts across the region.

-By Anthony Harrup, Dow Jones Newswires, (5255) 5001 5727, anthony.harrup@dowjones.com

Source: wsj.com/