The Central Bank announced in paid advertisements the decision of the Monetary Board to dissolve what remains of Baninter, and approve the sale of several branch offices to the Bank of Nova Scotia (Scotiabank).
The Central Bank declared that Scotiabank would purchase ?a significant part? of Baninter?s financial assets and would pay US$25 million for 25 of its branch offices. A further 10 branch offices also to be contracted to Scotiabank correspond to leases of which the bank will only purchase equipment and furniture.
The Central Bank is also considering offers of other banks for the sale of an additional 105 branches.
The advertisement published in local newspapers says that Scotiabank will offer Baninter clients who have maintained their deposits the option of opening new accounts.
According to the publication, the Monetary Board revoked Baninter?s license to operate, based on its insufficient liquidity, inability to pay debts and non-fulfillment of other obligations.
The board also cited Baninter?s failure to fulfill its commitment to regulate liquidity and the poor quality of the assets obtained by the bank. These assets were qualified as having a risk rate of 48.4%, with 71.4% of them receiving a classification of D or E in terms of risk, 21.9% graded at C, 6% graded at B level and just 0.7% receiving an A rating.