The Monetary Board ordered on 28 January 2022 the dissolution of Banco Múltiple de Las Americas, S.A. (Bancamérica). The impact will be minor on the financial system. The Superintendence of Banks says Bancamerica has 0.13% of the financial system’s assets, 0.34% of the deposits, and 0.27% of the debtors. The bank is ranked 31st of 49 financial intermediaries.
The Superintendence has taken control of the financial entity. The decision is taken after the bank failed to comply with a regularization schedule assumed in 2019.
As part of the regularization plan, the Superintendency of Banks had required Bancamerica to return deposits held in related entities abroad, increase its capital and strengthen its collection methods and internal controls.
Bancamérica has assets of RD$3.57 billion, representing 0.13% of the system’s total assets. The bank has 28,485 depositors, representing 0.34% of the system. Only 15,260 of the accounts have balances and/or savings instruments, with a total of RD$3.25 billion. The number of debtors amounts to 5,438, representing 0.27% of the system.
Bancamerica customers will be able to go from Monday, 7 February 2022 to the bank’s branches to validate their deposits and other credits.
Read more in Spanish:
Superintendence of Banks
3 February 2022