Ficohsa to expand US agency network

Honduran bank Banco Financiera Comercial Hondureno (Ficohsa) has received authorization from US regulators to open an agency in the state of Virginia in April, local daily La Tribuna reported. The bank currently has four agencies in Florida, Georgia and North Carolina, with plans to open offices in New York, Texas and California. Ficohsa reported net income of 81.7mn lempiras (US$6mn) for 2003 with assets totaling 10.5bn lempiras at the end of last year. Honduras is home to 16 commercial banks. The top five banks in terms of assets at end-December 2003 were: Banco Atlantida (16.3%); Banco Grupo El Ahorro Hondureno (BGA) (15.4%); Banco de Occidente (13.1%); Ficohsa (11.7%); and Banco del Pais (10.2%).