In the last 19 years, 23 financial intermediation entities have been dissolved by the authorities as a result of resolutions approved by the Monetary Board. The most recent is from Bancamérica started this week.
From October 16, 2003 to January 28, 2022, the Monetary Board has decided on 23 institutions that should have been dissolved from the Dominican financial system, as reported by the Superintendency of Banks.
The Superintendence reported its intervention to Bancamérica to initiate its dissolution, in accordance with the provisions of the Monetary Board in its Second Resolution of January 28, 2022. “The measure was due to the fact that the bank failed to comply with legal and regulatory provisions within the framework of a regularization plan,” he explained.
Bancamérica it is a small bank with barely 0.13% of the assets of the national financial system.
Below is the list of entities dissolved from 2003 to date, ordered from the most recent to the oldest.
|one||MULTIPLE BANK OF THE AMERICAS, SA (BANCAMERICA)||JANUARY 28, 2022|
|two||FINANZAR CREDIT CORPORATION, SA||MARCH 25, 2019|
|3||THE CASH CREDIT CORPORATION||FEBRUARY 21, 2019|
|4||ORIENTAL CREDIT CORPORATION, SA||JANUARY 24, 2019|
|5||LA AMERICANA CREDIT CORPORATION, SA||JULY 19, 2018|
|6||RONA CREDIT CORPORATION, SA||NOVEMBER 24, 2016|
|7||PROVIDENTIAL SAVINGS AND CREDIT BANK, SA||JUNE 02, 2016|
|8||PERAVIA BANK OF SAVINGS AND CREDIT, SA||NOVEMBER 19, 2014|
|9||MICRO SAVINGS AND CREDIT BANK, SA||FEBRUARY 7, 2013|
|10||CREDIT AND TOURISM FINANCIAL COMPANY, SA||JULY 12, 2012|
|eleven||FINANCIAL CREDICORP, SA||AUGUST 18, 2011|
|12||INVER-CAR, C. BY A.||JUNE 17, 2010|
|13||FINANCIAL INVESTMENTS M & R, C. BY A.||NOVEMBER 18, 2010|
|14||BUSINESS AND INDUSTRY FINANCE SANTA CLARA, SA||DECEMBER 16, 2008|
|fifteen||CENTRAL SAVINGS AND LOAN ASSOCIATION||JANUARY 18, 2007|
|16||SAVINGS AND CREDIT BANK OCHOA, SA||APRIL 19, 2007|
|17||AUTOMOTIVE FINANCING, SA (FINAMÓVIL)||APRIL 19, 2007|
|18||DOMINICAN SOLIDARITY CREDIT, SA||AUGUST 10, 2006|
|19||NATIONAL FINANCIAL CREDITS, SA (CONACRE)||JUNE 09, 2005|
|twenty||FINANCIERA ROYAL DOMINICANA, S.A||JULY 07, 2005|
|twenty-one||UNIFIED DEVELOPMENT BANK, SA||JULY 08, 2004|
|22||INTERCONTINENTAL BANK SA (BANINTER)||APRIL 07, 2003|