POSTD Merchant Banque said that it has acquired a controlling stake in Banco PyME de la Comunidad SA., a South American banking group, for an undisclosed price.

Banco PyME is engaged in funds, trusts, and other financial instruments, and other commercial services. With more than 400 employees, the South American bank operates offices and branches in major cities across Bolivia, which include La Paz, Cochabamba, Potosi, Oruro, Beni, Pando, Chuquisaca, and Taija.

POSTD Merchant Banque, on the other hand, is a US-based non-depository financial institution that provides clients access to growth capital in the private markets in the form of institutional debt or equity.

The company said that it has achieved great synergy with the acquisition of the stake in Banco PyME.

POSTD Merchant Banque will integrate as a fully licensed bank with Banco PyME to start comprehensive international banking operations.

The company will pursue different types of major projects to drive growth for the bank.

The near-term focus for POSTD Merchant Banque will be to integrate the US and Bolivian operations to enable it to efficiently and effectively achieve its strategic goals and objectives.

  Banco PyME, Banking acquisition news, Banking industry news, Bolivia, POSTD Merchant Banque