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Article: CENTRAL BANK TAKES OVER BANINTER.(Central Bank of the Dominican Republic takes over Banco Intercontinental operations)(Brief Article)
- Article from:
- Caribbean Update
- Article date:
- May 1, 2003
CopyrightCOPYRIGHT 2003 Caribbean Update, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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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 24 March 2003, which had declared there were no ...