December 17, 2018 / 4:40 PM / a month ago

Itau's Vassimon says no new acquisitions until Colombia business consolidated

SAO PAULO, Dec 17 (Reuters) - The “consolidation” of bank Itaú Corpbanca’s operations in Colombia will still take another year, a high-ranking executive said on Monday.

Any new acquisition in Latin America are off the table until that consolidation takes place, Eduardo Vassimon, CEO of wholesale bank Banco Itaú BBA, controlled by Itaú Unibanco Holding SA, said.

Itaú Unibanco, Brazil’s largest private lender, merged with Chilean Corpbanca in 2016. The combined entity has operations in Chile, Colombia and Panama.

Reporting by Carolina Mandl Editing by Chizu Nomiyama

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