Which bank won the tender for Bancamérica assets

Which bank won the tender for Bancamérica assets

The Superintendency of Banks (SB) awarded the Banco de Reservas (Banreservations) the assets and liabilities that make up the first business unit tendered by Banco Múltiple de las Américas (Bancamérica).

The contract that formalizes the award was signed by the Superintendent of Banks, Alejandro Fernández, and the general manager of the BanreservationsSamuel Pereyra Rojas, at the headquarters of the supervisory body.

In this package, assets amounting to RD$2,346.5 million and deposits for RD$2,924.1 million (equivalent to 100% of the deposits of persons not linked to the shareholders or the administration) were tendered.

The SB specified that seven financial intermediary entities showed interest in bidding, two formalized offers, with the Banco de Reservas being the winner.

The superintendent thanked the support of the Monetary Board, the Central Bank and the special assistance of other state institutions in the process, which, he stressed, have been essential to carry out the dissolution in an orderly manner and in record time.

According to the statement issued by the SB, the Banco de Reservas will inform its new clients when they will have access to its products. It is expected to be no later than next Wednesday, March 16, when the transfer and integration of data into your system is complete.

The next step in dissolving Bancamérica will be the bidding of other assets of the entity, to make payments as appropriate.

Bancamérica was intervened for its dissolution on February 2, following the disposition of the Monetary Board through the Second Resolution of January 28, 2022.

The decision came about 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.

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