International Holding Company (IHC) steps into Latin America with US$200 million investment in Lulo Colombia S.A
International Holding Company (IHC) steps into Latin America with US$200 million investment in Lulo Colombia S.A . Colombia is the fourth global market IHC steps into in 10 months. The investment represents 49.9% of Lulo Bank's ownership. Lulo bank is the first fully digitalised bank in Colombia. Source: SAWYA Abu Dhabi, UAE: International Holding Company PJSC (ADX: IHC), the diversified Abu Dhabi-based conglomerate, has announced today a capital investment of AED 734 million (USD 200 million) in Lulo Colombia S.A., which is also the holding company of Colombia’s first regulated digital bank, Lulo Bank S.A. (“Bank”), through one of IHC’s subsidiaries. Lulo Bank is a fast-growing and new player that enters the field of neobanks in the Colombian market and plans to expand into other Latin American markets. The Bank was founded by Jaime Gilinski, a Colombian businessman with over 45 years of banking experience in Latin America, North America, and Europe. Commen...