CENTRAL BANK TAKES OVER BANINTER.(Central Bank of the Dominican Republic takes over Banco Intercontinental operations)(Brief Article)

Caribbean Update | May 1, 2003 | Copyright

The Central Bank of the Dominican Republic has taken over the day-to-day operations of the Banco Intercontinental, reports DR1 Daily News (April 8, 2003). The Monetary Board of the Central Bank annulled the decree that would have allowed Banco de Progreso to acquire 90% of the shares of Baninter and merge the two banks. The Central Bank said that it will guarantee the deposits in the Baninter and make interest payments. The press was informed that after processing the reports and the analyses that were part of the merger process, it was decided to annul the resolution dated ...

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