The Superintendent of Banks resigns

The Superintendent of Banks, Pedro Solines, formalized his resignation to the President of the Republic, Rafael Correa. Solines indicated that in the coming days he will formalize his resignation to the National Assembly, as provided by law. Solines explained that his resignation...

Banks shall be sanctioned for clients discrimination

Four penalties may face the banking establishments of the private financial system that denies credits to persons who fulfill all the requirements. The most serious is the closure of the institution. This case is applicable, according to the authorities of the Superintendence of...

Superintendency discusses return of 100% of pension funds

The Superintendent of Banks, Pedro Solines, said they are studying the possibility of allowing the unemployment funds to return 100% of the resources to whoever claims it. Since last year, only a 50% refund is allowed and the rest is for the time of retirement. “If everyone...

Payments of ​​Banco Sudamericano will begin from Monday

Pedro Solines, Superintendent of Banks and Insurance, said that from Monday, September 8th, the former clients of Banco Sudamericano will begin to receive their deposits. Solines explained that the Deposit Insurance Corporation (Cosede for its Spanish acronym), in coordination...

Seguros Bolivar goes into liquidation

The company Seguros Bolívar went into a forced liquidation due to financial problems, as stated by the Superintendent of Banks Pedro Solines. “On Friday afternoon I signed the resolution and I understand that this morning it was entered in the Commercial Register so it is...

Former Directives of the Territorial Bank were found guilty of embezzlement

After two days of hearing, and two failed previous court summons, the Fifth Criminal Court of Guayas declared former controlling shareholder of the extinct Territorial Bank, Pietro Z., and former manager Raul S, guilty of the crime of bank embezzlement. According to the...
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Solines: “The depositors will get their money inmediately and not on paper”

In an interview with Gamatv, Superintendent of Banks, Pedro Solines, explained that if the Territorial Bank fails to be sold in two weeks (deadline within the implemented resolution plan), the Deposit Insurance Corporation (CSD for its Spanish acronym) will begin paying the...
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Herreria warns trial against Solines

After assemblyman Enrique Herreria requested once again the Central Bank of Ecuador (BCE for its Spanish acronym) for the full information on the balances of the entity, the legislator warned he wont hesitate on presenting an impeachment against Banking Superintendent Pedro...