5 Pesos El Banco Internacional de Guatemala

Banco Internacional de Guatemala was a private commercial bank operating under concession during the era when Guatemala had no central bank — monetary issuance was split among several competing private institutions, each printing their own circulating notes. The International Bank held its concession alongside rivals including the Banco de Occidente and the Banco Agrícola Hipotecario, a fragmented arrangement that persisted until the Banco Central de Guatemala was established in 1926 and private note issuance was brought to an end.

Waterlow & Sons produced the plates, as they did for much of Latin American private banking paper in this period. The S-prefix Pick reference indicates private bank issue status.