Banking

Merger makes Irish-owned bank largest in Paraguay

Sudameris, owned by Irishman Conor McEnroy, is to link up with Banco Regional to create institution with $4.8 billion in assets

Conor McEnroy, who owns over 78 per cent of Sudameris through his personal investment vehicle Abbeyfield

A Paraguayan bank owned by Irishman Conor McEnroy has merged with another to become the biggest in the South American country.

Sudameris’s merger with Banco Regional, which is majority owned by Rabobank, “is subject to the approval of the Central Bank of Paraguay and other competent institutions”, the two banks said in a joint statement.

If it is approved, Sudameris will now become the country’s biggest bank by assets, with a total of $4.8 billion ...