Banking Supervisory Authority begins auction of Bancamérica assets and liabilities

The Banking Supervisory Authority (SB) has summoned eligible intermediary entities to participate in the bidding for assets and transfer liabilities of Banco Múltiple de Las Américas (Bancamérica), an entity in the process of liquidation.

In the notice, published on Monday, February 14, SB acknowledged that Interested parties should submit their proposals to acquire assets and transfer liabilities valued at $2,403.1 million and R$2,958.3 million, respectively, no later than Monday, February 21, 2022 at 4:30 p.m.

Bidders must specify the amount of the corresponding contribution they will require from the contingency fund to accommodate assets and liabilities as an indivisible unit.

“The bidder who meets the eligibility criteria and whose bid requires the least corresponding contribution from the emergency fund will be the winner,” SB states in the call.

It adds that the bid envelopes will be opened on Friday, February 25 at 5:00 pm, at the headquarters of the Banking Supervision Authority, in the presence of the bidders and the notary public.

The bid is published 12 days after the supervisory authority has acquired the bank, as part of a promoted plan to restore customers’ access to their banking products as quickly as possible.

The process is carried out in accordance with the provisions of Article 63 of Law No. 02-183 monetary and financial dated November 21, 2002 regarding dissolution procedures and the system for dissolution and liquidation of financial intermediation bodies, ratified by the first decision issued by the Monetary Council on October 6, 2011.

Maintains contact with depositors to verify information is correct

The Banking Supervision Authority explained this during this stage Data validation of Bancamérica depositors is ongoing, Therefore, he reiterated his call to those who did not complete this requirement to do so, either by visiting the branch or online, through the platform. www.prousuario.gob.do.

As of 8:00 a.m. Monday, 2,797 depositors had verified their data, representing deposits of R$2,138 million. At that time, 71.3% of unrelated savers’ deposits were validated.

This progress within the first week of the operation was made possible by enabling the verification platform that allows depositors to confirm their information remotely and at branches of the dissolved entity.

Bancamérica’s dissolution began on February 2, following the decision of the Monetary Council through the second resolution of January 28, 2022.

The objective of the Supervisory Authority is to conclude the bid and promote the transfer of Bancamérica’s assets and liabilities within the 30-day period established by law, with the aim of safeguarding the interests of savers.