IHC completed the acquisition of a 49.9% stake in Lulo Bank for $200m.

IHC, a corporate investment holding firm, completed the acquisition of a 49.9% stake in Lulo Bank, a digital bank, for $200m. “In the case of Colombia, it has made significant progress in terms of financial inclusion with the increase in access to financial products, which rose to 87%. It’s critical for us to align any transaction with our growth strategies, whether to acquire new capabilities or consolidate, and Lulo Colombia sits very well with our expansion plans in Latin America,” Syed Basar Shueb, IHC CEO.