Banco Agricola

What Banco Agricola does

Banco Agricola is a privately held universal commercial bank headquartered in San Salvador, El Salvador, and a wholly-owned subsidiary of Grupo Bancolombia, the largest financial conglomerate in Colombia. Founded in 1955, the bank serves five primary customer segments: retail individuals and families, high-net-worth clients (Preferencial), small and medium enterprises (Pyme), large corporations and government entities, and the Salvadoran diaspora abroad. It operates the widest distribution network in El Salvador — over 1,600 service points including branches, ATMs, kiosks, and financial correspondents — supplemented by US toll-free and WhatsApp customer service channels aimed at Salvadorans living abroad.

The bank offers a full product portfolio spanning deposit accounts (digital savings, electronic savings, current accounts in Óptima and Preferencial tiers), credit cards (10+ variants across Visa and Mastercard from Clásica through Infinite/Black), personal loans, mortgages, vehicle financing (up to 90% LTV), educational loans (up to 100% of tuition, 12-year terms), life and health insurance, mutual funds and treasury products, securities brokerage (Valores Banagricola), and asset management (Gestora). Digital channels include the Banca Móvil app (Android, iOS, Huawei), e-banca Personas and e-banca Empresarial web platforms, QR-code payments, a digital wallet (Billetera Digital), and electronic tax-document integration with El Salvador's Ministry of Finance. Merchant acquiring is delivered through the Wompi payment gateway (a wholly-owned subsidiary) with API, payment links, payment buttons, and POS solutions at a 3.5% transaction fee, plus wireless POS, MPOS, and App POS hardware.

Banco Agricola's revenue model is diversified across net interest income (consumer, mortgage, vehicle, business lending), payment-processing transaction fees (Wompi), remittance fees and FX spread (with over 1,000 disbursement points domestically), credit card membership and interchange fees, account service charges, insurance distribution commissions, and investment/securities brokerage. Distribution is multi-channel: physical branches and financial correspondents for cash-intensive transactions, self-serve digital banking, 24/7 Telebanca call center, WhatsApp with the Tabot virtual assistant, and a US toll-free line for diaspora customers. The bank is led by CEO Rafael Barraza Dominguez, employs 1,001-5,000 people, has received $400M of IFC capital across 2020 and 2022, and as of January 2026 is partnering with Accion and the Mastercard Center for Inclusive Growth to digitize remittances and build digital financial identities for low-income populations.

Name

Banco Agricola

Legal name

Banco Agricola

Website

https://bancoagricola.com

Company type

Private

Founded year

1955

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Banco Agricola is a universal commercial bank and Grupo Bancolombia subsidiary operating El Salvador's widest service network (1,600+ points). It serves retail, SME, corporate, government, and diaspora customers with deposits, lending, cards, insurance, investments, remittances, and the Wompi merchant payment gateway.

Ownership category

akta.pro rank

Product category

Universal Commercial Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

General SME & Middle-Market Commercial Banking (FSABABAA), Credit Cards & Revolving Credit (FSABAAAC), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

Keywords

• Retail banking services
• Commercial banking products
• Remittance services
• Payment processing solutions
• Digital banking platform

Headquarters

HQ city

San Salvador

HQ country

El Salvador

HQ region

Latin America

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Interest Income: Banco Agricola generates revenue through interest earned on loans including personal loans, mortgages, vehicle loans, credit cards, and business financing.
2. Payment Processing Fees (Wompi): Transaction fee of 3.5% charged on payment processing through the Wompi gateway for merchants accepting card payments online and in-person.
3. Remittance Services: Fees and foreign exchange revenue from remittance sending and receiving services, including domestic disbursement through over 1,000 service points.
4. Card Fees and Commissions: Annual membership fees for credit cards, commission on point accumulation and redemption programs (Puntos Bancoagricola), and interchange fees on debit and credit card transactions.
5. Account and Service Fees: Monthly fees, minimum balance requirements, and service charges across savings accounts, current accounts, and preferred banking services.
6. Insurance Distribution: Revenue from distributing insurance products including life, health, assistance, and debtor protection insurance through the bank network.
7. Investment Products: Revenue from managing and distributing investment funds, time deposits, treasury products, and securities brokerage services.

Pricing tiers

Go-to-market motion1 record

Distribution channels9 records

Marketing channels7 records

Core offering

Banco Agricola operates as a universal commercial bank in El Salvador offering deposit accounts (savings and checking), credit products (personal loans, mortgages, vehicle financing, and educational loans), investment funds, term deposits, and insurance. It provides payment acceptance infrastructure through POS terminals and the Wompi online payment gateway. The bank distributes its services via a multi-channel model including over 1,600 physical service points, mobile and online banking apps, call centers, and financial correspondents, with dedicated services for the Salvadoran diaspora abroad.

Product overview

Banco Agricola is a comprehensive financial services provider in El Salvador offering a multi-product, multi-channel platform for individual, business, and government customers. The core portfolio includes deposit accounts (savings and checking), credit products (personal loans, mortgages, vehicle financing, and educational loans), investment products (term deposits, mutual funds, and securities), and insurance offerings (life, health, and assistance). Digital channels encompass e-Banca (online banking for individuals and businesses), Banca Móvil (mobile apps), digital wallet, and QR payments. The commercial segment offers a full suite of payment acceptance solutions through POS terminals, Wompi (online payment gateway with API), and merchant financing options. The bank also operates an Innovation Center employing Design Thinking methodology for product development. Core products are organized by customer segment (Personas, Preferencial, Pyme, Empresas y Gobierno, Salvadoreños en el Exterior) and supplemented by digital banking services and payment processing infrastructure.

Differentiator

Problem solved

Functional benefit

Brands

• Wompi: Digital payment gateway platform enabling online payments and merchant solutions
• Banca Preferencial
• Centro de Innovacion
• Banconautas

Products and services

• Cuentas de Ahorro (Savings Accounts)
• Cuentas Corrientes (Current Accounts)
• Tarjetas de Crédito (Credit Cards) Credit cards including Clásica VISA, Súper Selectos VISA, Farmacias San Nicolás Mastercard, Dorada VISA, Platinum VISA, Platinum LifeMiles VISA, Black Mastercard, Infinite VISA, Infinite Lifemiles VISA, Joven VISA, and no-membership Mastercard variants.
• Tarjetas de Débito (Debit Cards) Debit cards including Clásica Mastercard, Platinum Mastercard, Black Mastercard, Joven Mastercard, and Banconautas (children) Mastercard for ATM and POS transactions.
• Créditos Personales (Personal Loans) Personal loans with salary deduction orders, account charge, and mortgage guarantee options for debt consolidation and personal financing.
• Crédito Hipotecario para Vivienda (Home Mortgage) Long-term home financing for purchase, land acquisition, remodeling, and construction. Available for Salvadorans abroad.
• Crédito para Vehículos (Vehicle Financing) Vehicle financing for new or used cars with up to 90% financing coverage.
• Crédito de Estudio (Educational Loans) Educational loans covering up to 100% of tuition plus related expenses with terms up to 12 years for domestic or international studies.
• Depósitos a Plazo (Time Deposits) Fixed-term deposits with guaranteed interest rates for specified periods, available via mobile banking.
• Fondos de Inversión (Investment Funds) Investment funds managed by expert teams for profitability and liquidity, including the first foreign investment fund (Fondo Renta Fija Valor).
• Productos de Tesorería (Treasury Products) Treasury products and services for optimal management and investment of client assets.
• Seguros de Vida (Life Insurance) Life insurance products including Vida Segura, Vida Integral, Edufuturo (children's education), and Vida Renta plans.
• Seguros de Salud (Health Insurance) Health insurance providing daily hospitalization income for illness or accident coverage.
• Cobro de Remesas (Remittance Collection) Remittance collection service with over 1,000 service points for fast and secure family remittance receipt, integrated with the Nequi platform.
• Envío de Remesas (Remittance Sending) Remittance sending service enabling fast, easy, and secure money transfers from the US or any country to El Salvador.
• Compra y Venta de Divisas (Foreign Exchange) Foreign exchange services with currency exchange rates quoted through specialists or online contact forms.
• Wompi (Payment Gateway) Online payment gateway (100% self-service, no membership fee) enabling e-commerce through websites and social media with QR codes, payment links, and POS support at 3.5% per transaction.
• Cash Management Treasury and cash management solutions for businesses to manage funds efficiently.
• Transfer365 CA-RD (Cross-border Transfers) Cross-border transfer service between Central American banks and Dominican Republic via Central Bank, accessible through e-banca.
• Servicios Internacionales para Empresas (International Services for Businesses) International services for paying foreign suppliers, transferring funds to subsidiaries, and multi-currency operations for businesses.

Quantifiable outcome

• Remittances represent about 25% of El Salvador's GDP, making it a critical market segment for Banco Agricola

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration14 records

Feature7 records

Partnerships

Seven partnerships are on record, tiered flagship, core and minor.

• AccionflagshipStrategic or Co-development Partner · 28 January 2026Accion partnered with Banco Agricola and the Mastercard Center for Inclusive Growth to promote financial inclusion and digital banking in El Salvador by digitizing remittances through the Nequi digital payment platform. The initiative targets low-income populations, using remittances (approximately 25% of El Salvador's GDP) as an entry point to create digital financial identities and enable services such as alternative credit assessment. The alliance builds on an eight-year collaboration between Accion and Mastercard, with plans to replicate the model in other high-remittance markets including Mexico.
• Mastercard Center for Inclusive GrowthflagshipStrategic or Co-development Partner · 28 January 2026Partnership with Accion and Banco Agricola to promote financial inclusion and digital banking in El Salvador. Focuses on digitizing remittances through the Nequi platform to create digital financial identities for low-income populations and enable alternative credit assessment.
• WompicoreTechnology or IntegrationWompi is the payment gateway and POS solution partner for Banco Agricola, enabling merchants to accept online card payments, QR codes, and mobile payments. Wompi offers APIs, payment links, boton de pago, and POS functionality. Commission is 3.5% per transaction with no monthly fees.
• ESEN (Escuela Superior de Economia y Negocios)coreStrategic or Co-development PartnerBanco Agricola's Centro de Innovacion signed a partnership agreement with ESEN to strengthen the innovation ecosystem. Part of the 'Movilizadores de la Innovacion' program creating alliances with universities to develop innovation capabilities.
• Universidad Don BoscocoreStrategic or Co-development PartnerBanco Agricola's Centro de Innovacion signed a partnership agreement with Universidad Don Bosco as part of the 'Movilizadores de la Innovacion' program to foster innovation and develop talents within the university ecosystem.
• Monica HerreracoreStrategic or Co-development PartnerUniversidad Monica Herrera is a university ally in Banco Agricola's innovation center program 'Movilizadores de la Innovacion,' contributing to the development of innovation capabilities and talent in El Salvador.
• Camarasal (Camara de Comercio de El Salvador)minorGTM or Marketing PartnerBanco Agricola co-sponsored the relaunch of the Google Developers community with Camarasal, supporting digital transformation efforts in El Salvador.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Banco Cuscatlán: One of the largest commercial banks in El Salvador, competing head-to-head with Banco Agricola across retail, SME, corporate, and remittance segments. Operates a similar multi-channel branch plus digital model in El Salvador.
• BAC Credomatic: Major Central American universal bank (BAC | Credomatic network) with direct presence in El Salvador. Overlaps with Banco Agricola in retail deposits, credit cards, SME lending, payment acquiring, and remittances across the region.

Broad incumbents

• Banco Davivienda: Colombian banking group (sister competitor to Bancolombia in Colombia) with growing Central American footprint, including El Salvador. Offers a similar universal banking suite — deposits, mortgages, credit cards, and SME financing — competing for the same diaspora and SME customers.
• Grupo Bancolombia: Parent company of Banco Agricola and Colombia's largest financial conglomerate. As the listed holding entity, it owns the platform, capital, and governance model that Banco Agricola operates within; comparable in scale, product breadth, and digital investment thesis.

Regional players

• Banco Industrial: Guatemala-based bank and one of Central America's largest institutions, offering retail, SME, and corporate banking plus remittance services. Comparable product breadth and remittance-led business model, though operating primarily in Guatemala.
• Banistmo: Panama-based bank (Bancolombia Group subsidiary) offering corporate, SME, and consumer banking across Central America. Directly comparable universal banking model and part of the same banking family as Banco Agricola.
• Banco Promérica: Central American banking group operating across multiple countries including El Salvador. Comparable in retail deposits, credit cards, and SME services, with similar product breadth but more diversified geographic footprint.

Emerging players

• Tigo Money: Mobile money wallet operated by Millicom in El Salvador, competing directly for remittance receipts, P2P transfers, and small-ticket deposits — the same low-income retail segments Banco Agricola targets via Banconautas and Cuenta de Ahorro Digital.
• Chivo Wallet: El Salvador's state-backed Bitcoin/dollar digital wallet with zero-fee remittance and QR payments. Competes with Banco Agricola's remittance and merchant acquiring businesses by leveraging digital-first economics and policy backing.

Others

• Wompi (Bancolombia Group): Payment gateway operated by Grupo Bancolombia across multiple LatAm markets, comparable to the Wompi SV gateway Banco Agricola uses for merchant acquiring. Same technology family, similar API/QR/button offering, and a sister asset within the Bancolombia ecosystem.

Market position

Strengths1 record

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/BancoAgricolaSV
• YouTubeyoutube.com/user/BancoAgricolaSV
• Facebookfacebook.com/bancoagricola.sv
• LinkedInsv.linkedin.com/company/bancoagricola
• Instagraminstagram.com/bancoagricola

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries3 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Banco Agricola