Guatemalan banking shows high performance
Guatemala, which is governed by the central banking system, has a solid financial and banking system.
The Banco de Guatemala, through the Monetary Board, its highest management body, controls the national banking system, made up of 17 banking institutions, 11 financial groups and 13 financial companies as of September 2019.
The country maintains a dynamic movement of financial operations, due to the arrival, in recent years, of foreign groups and a series of mergers and acquisitions in the sector, which has allowed it to consolidate and be more efficient and productive.
In the local market, an exchange system operates without restrictions for the entry or exit of foreign currency, but which complies with laws related to money laundering and prevention of terrorist financing.
The institutions offer cutting edge technology to their users, with a strong installed capacity to provide online services. Account holders can make all kinds of transactions in quetzals, dollars and euros, in different banks, mobile applications or online.