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Nov. 16, 2004 / 1:52 PM

Banco Azteca expands operations

MEXICO CITY, Nov. 16 (UPI) -- The Mexican bank Banco Azteca Tuesday said it would be widening operations in various countries in Latin America beginning in 2005.

According to Banco Azteca spokeman Rolando Villarreal, the bank foresees the establishment of operations in Honduras, Guatemala, Peru, Brazil, Ecuador, Colombia, El Salvador and Nicaragua.

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The bank is a subsidiary of Ricardo Salinas Pliego's TV Azteca, Mexico's second-largest network, and the Elektra chain of stores that sell home electronics products.

Elektra just began operations in Panama in October and operates 75 stores in Latin America, including 35 in Guatemala, 17 in Honduras, and 23 in Peru.

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