Guatemala’s Banco Industrial S.A. (Bi), headquartered in Guatemala City, is recognized as one of Central America’s most prominent financial institutions. Established in 1968 to bolster the country’s industrial sector, the bank has positioned itself as a progressive financial entity dedicated to industrial growth, business expansion and financial inclusion. What initially began as the vision of several Guatemalan industrialists has grown into the nation’s leading bank and a key player among Central America’s major financial groups.
The bank maintains a network of thousands of service points throughout Guatemala alongside state-of-the-art internet and mobile banking platforms. Its offerings encompass personal banking, corporate finance, investment products, insurance solutions, institutional banking and digital services. Bi emphasizes its leadership in innovation, according to its Chief Executive Officer, Luis Lara Grojec.
Banco Industrial is renowned not only for its innovation but also for its dedication to fostering economic stability and growth across Guatemala and the wider region. For example, through its support of micro, small and medium-sized enterprises, it plays a key role in creating jobs and strengthening the country’s economic resilience. Its operations extend beyond Guatemala into El Salvador, Honduras and Panama, underscoring its strategic emphasis on regional integration.
Banco Industrial has also established a strong reputation for corporate responsibility and community engagement. Through various initiatives, it promotes financial and digital literacy, environmental sustainability and social development, aligning its operations with larger societal goals.
As the financial sector evolves, Bi leads by example. Its blend of tradition and innovation, supported by its strong regional presence, solidifies its role as a cornerstone of Central American banking and demonstrates how successful financial institutions can meet financial needs while promoting economic growth and social progress.
International Banker recently spoke with Chief Executive Officer Luis Lara Grojec to delve into the bank’s recent achievements.
Mr. Luis Lara Grojec, Chief Executive Officer, Banco Industrial S.A.
Thank you for your time today, Mr. Lara….
According to Banco Industrial’s financial statements, total operating income increased by 11.1 percent year-on-year in 2025. What were the main factors behind this strong performance?
Banco Industrial’s total operating income grew by 11.1 percent year-on-year in 2025, which was the result of various strategies implemented. The first has focused on deeper penetration of high-margin segments, both in the retail segment and the SME segment. In particular, strengthening the retail segment has enabled a significant increase in our margins.
The second strategy is to capitalize on Guatemala’s low level of banking penetration, which has involved implementing digitization initiatives and strengthening our presence in rural areas of the country. The digitization of services and processes has allowed us to expand our reach to more customers, while also improving operational efficiency and the customer experience.
According to Banco Industrial’s website, the bank credits its strong support of innovation as the “dynamic characteristic that has made us the leading corporation in the regional financial sector”. What factor most meaningfully differentiates your approach to innovation from that of your regional banking peers? What do you expect to be the most exciting or significant innovation you will introduce in 2026?
What differentiates Banco Industrial’s approach to innovation is its clear strategic vision. Innovation is not treated as a standalone initiative but as an integrated, purpose-driven capability embedded across the organization. The bank has invested importantly in the past two years in advanced technologies—such as artificial intelligence (AI), open banking and digital incubation—to continue catering to its customers’ needs. Looking ahead throughout 2026, one of the bank’s most exciting innovations will be the continued expansion of embedded finance and fully digital credit journeys, further enhancing financial inclusion and the customer experience.
On the digitalization front, can you briefly explain the main features and objectives of Zigi, the bank’s digital innovation arm, and, in particular, how it is facilitating easier access to credit for Guatemalans? Additionally, the bank recently confirmed its decision to use Thought Machine’s cloud-native Vault Core banking platform to power Zigi. What do you see as the main benefits of this choice?
Zigi is Banco Industrial’s digital-innovation arm, designed to offer a frictionless, inclusive and fully digital financial experience. Its main objective is to simplify access to financial services, particularly credit, for underserved segments. Through Zigi, customers can open accounts, receive remittances, make payments and access 100-percent digital micro-loans quickly and securely.
Zigi is Banco Industrial’s digital-innovation arm, designed to offer a frictionless, inclusive and fully digital financial experience.
How is the recent launch of the Zigi app helping Guatemalans more conveniently receive money from abroad? I understand that you have partnered with International Money Express (IME), a leading remittance provider to Latin America and the Caribbean, to improve the remittance process. How does this partnership work in practice, and what does International Money Express bring that would otherwise not be possible?
Zigi enables Guatemalans to receive remittances more conveniently through direct digital deposits and the immediate availability of funds. The partnership with International Money Express allows remittances to be sent efficiently from the United States and credited directly to users’ digital accounts. IME contributes extensive remittance infrastructure, regulatory compliance and cross-border expertise, enabling faster processing, greater transparency and lower costs for customers—capabilities that would be difficult to replicate independently.
Last year, Banco Industrial integrated blockchain-based stablecoin technology into its Zigi app in partnership with SukuPay to facilitate near-instant, low-cost cross-border remittances from the US. Can you provide more insight into how this technology works, particularly in terms of ensuring safety and trust for your customers? How does partnering with SukuPay enhance the overall quality of this payment solution?
The integration of blockchain-based stablecoin technology through SukuPay allows Zigi users to receive near-instant, low-cost cross-border remittances from the United States. The solution uses regulated stablecoins and trusted blockchain infrastructure, ensuring transaction traceability, security and compliance. SukuPay enhances the solution by managing on-chain/off-chain conversions, regulatory safeguards and user-friendly interfaces, significantly improving speed and cost efficiency while maintaining customer trust.
On the corporate side of the business, what would you say is Banco Industrial’s most exciting payment solution? Why is this particular solution so significant?
On the corporate side, one of Banco Industrial’s most significant payment solutions is its interoperable QR (quick response) payment ecosystem. This solution enables businesses of all sizes to accept payments from any banking app, reducing reliance on cash and increasing formalization. Its significance lies in its scale, security and contribution to financial inclusion, particularly for small and medium-sized enterprises across Guatemala.
What is the 1Bot program, and how is it boosting technology education and training for Guatemalan youth nationwide? November 2025 marked the conclusion of the program’s first year. Are you satisfied with its progress toward achieving its objectives so far?
The 1Bot program, coordinated by Fundación Bi—our social arm, is an educational initiative aimed at strengthening technological skills among Guatemalan youth, particularly in STEAM (science, technology, engineering, arts and mathematics) disciplines. Through digital platforms, robotics kits and structured-learning programs, it expands access to technology education nationwide. Following its first year, the program has exceeded expectations, reaching tens of thousands of students and teachers, and has laid out a strong foundation for long-term digital inclusion and talent development.
What are some of the most significant cybersecurity measures the bank has implemented across its digital-banking operations over the past year? Are you satisfied with the strength of the bank’s current cybersecurity defenses, and do you believe customers have a sufficiently high level of trust in them?
Over the past year, Banco Industrial has strengthened cybersecurity through a multi-layered defense model, continuous system monitoring, upgraded infrastructure and advanced risk-management frameworks. Significant investments in cloud architecture, data protection, AI-driven monitoring and regulatory compliance have reinforced its defenses.
Banco Industrial, Headquarters in Guatemala City
Banco Industrial recently finalized a US$133-million financing agreement with the multilateral development institution IDB Invest to further sustainable development and strengthen Guatemala’s business sector, particularly micro, small and medium-sized enterprises (MSMEs). Can you share more details on how the bank will use these funds to advance sustainable development, particularly for projects with environmental and social impacts?
The US$133-million financing agreement with IDB Invest will be used to expand lending to MSMEs and support sustainable projects with environmental and social impacts. These funds will prioritize MSMEs; however, they will also focus on green financing, energy efficiency, sustainable infrastructure and inclusive business initiatives that contribute to economic resilience and responsible growth in Guatemala.
In February, Banco Industrial announced a landmark transaction with the International Finance Corporation (IFC), a member of the World Bank Group (WBG), to expand access to credit for micro, small and medium-sized enterprises. How will this financing specifically support women entrepreneurs?
The financing agreement with IFC focuses specifically on expanding access to credit for MSMEs led by women entrepreneurs. To provide some context on why this partnership is important to Banco Industrial and IFC: Guatemala has nearly 370,000 MSMEs, accounting for 40 percent of gross domestic product (GDP) and 77 percent of total employment. However, access to credit is limited for MSMEs, which constrains their competitiveness and growth. The bank’s goal is to support and empower entrepreneurs, especially women entrepreneurs, by providing resources that make these companies more resilient and competitive, allowing more people to develop their talents within Guatemala rather than being forced to migrate.
In November, Banco Industrial was recognized as the financial institution with the best corporate reputation in the country, according to the “Merco 2025 Study”, which highlighted the bank’s responsible approach to ESG across key areas, such as internal, customer and social responsibility. In terms of customer responsibility, in what key ways does the bank deliver on its commitment to sustainable development?
This recognition reaffirms our conviction that sustainable growth is only possible when economic progress goes hand in hand with the well-being of our communities. From inside the bank to our society.
Banco Industrial recognizes the importance of responsible management, supported by strong corporate governance and a solid Sustainability Policy, which defines clear objectives and guiding principles, ensuring that sustainability is integrated into decision-making and operations. These principles reflect Banco Industrial’s dedication to creating value for employees, clients, shareholders, communities and stakeholders.
Banco Industrial implements an ethical business model that strengthens its reputation and creates positive societal impact.
If I’m not mistaken, Banco Industrial currently operates an extensive service network in Guatemala, with more than 12,300 access points, including branches and mini-branches, banking agents, proprietary automatic teller machines (ATMs) and access to ATMs from other networks. From a financial-inclusion perspective, are you satisfied with the extent of this coverage? Do you plan to expand the network further?
Banco Industrial is a customer-centric institution, so we are always looking for ways to serve better and improve the user experience. While we have good coverage and access points nationwide, we are aware that we can still improve to be closer to our customers. Future expansion will focus less on branches and more on banking agents and digital solutions, such as Zigi, which extend access efficiently and securely, and, of course, a better user experience.
Given Guatemala’s low banking penetration, as reflected in the loan-to-GDP ratio, Banco Industrial implemented a strategy to expand its market presence by increasing its footprint in the SME segment and significantly boosting its number of banking agents, particularly in rural areas.
Beyond its network of access points, what would you say is the most significant way Banco Industrial is boosting financial inclusion across Guatemala in 2026? And what is the bank’s greatest challenge in achieving its financial-inclusion goals?
Beyond physical access points, the most significant driver of financial inclusion in 2026 is digital banking—particularly through platforms such as Zigi and Bi en Línea. The main challenge remains bridging digital-literacy gaps, which the bank addresses through education, simplified user experiences and guided onboarding.
What do you anticipate will be the bank’s most significant challenge on the innovation front in 2026? And how do you intend to address it?
The most significant innovation challenge in 2026 will be balancing the speed of innovation with cybersecurity, regulatory compliance and operational resilience. Banco Industrial plans to address this by maintaining disciplined governance, continued investments in talent and technology and strong partnerships with global technology providers.
I wish you every success in your future endeavors. Thank you again for speaking with me.