SANTODOMINGO- The Superintendency of Banks (SB) awarded to the Reserve Bank of the Dominican Republic the assets and liabilities that make up the first business unit tendered by the Multiple Bank of the Americas, SA, (Bancamérica).
The contract formalizing the application was signed this Wednesday by the Superintendent of Banks, Alejandro Fernández W, and the General Manager of Banco de Reservas, Samuel Pereyra Rojas, at the headquarters of the supervisory body.
In this package, assets amounting to RD$2,346.5 million and deposits of RD$2,924.1 million were auctioned (equivalent to 100% of the deposits of people not linked to the shareholders or the administration).
The SB specified that seven financial intermediation entities showed interest in bidding, two formalized offers, with the Banco de Reservas being the winner.
Superintendent Fernández W. expressed his gratitude for the support of the Monetary Board, the Central Bank, and the special assistance of other state institutions in the process, which, he emphasized, have been essential to carrying out the dissolution in an orderly manner and in record time.
According to the statement issued by the Superintendency of Banks (SB), Banco de Reservas will inform its new clients when they will have access to its products. This is expected to be no later than Wednesday, March 16, once the data transfer and integration into its system is complete.
The next step in the dissolution of Bancamérica will be the auctioning of other assets of the entity, for the purpose of making payments as appropriate.
Bancamérica was taken over for dissolution on February 2, in accordance with the Monetary Board's decision through the Second Resolution of January 28, 2022.
The decision was made because the entity failed to comply with the regularization plan through which the SB required it to return deposits held in related entities abroad, increase capital and strengthen its collection methods and internal controls.
Source: Today
