The Central Bank of Ecuador received from the closed bank that was handled by the Deposit Guarantee Agency (AGD acronyms in Spanish) a portfolio (debts tocollect) not linked of $ 2,562.2 million.
Of this amount, the most important was in Filanbanco for $ 1,310 million. The Banco del Progreso followed with $ 413 million. These amounts are the debts of those who received loans from banks but did not pay.
The AGD has just celebrated 20 years of creation. One of his tasks was the collection of the portfolio from both linked and non-linked debtors, known as”good faith”.
For the latter, a series of processes were carried out in order to facilitate said payments. Is that of the portfolio received only $ 740.1 million corresponded to capital. The rest had to do with interest ($ 212 million) and default ($1,563.2 million).
Over the years, and to the tune of laws such as the Organic Law for the Closure of the Banking Crisis of 1999 or the Organic Law for the Restructuring of Public and Closed Banking Debts, that portfolio has been reduced by the agreements for claims, recalculations, and even extinction of debts.
According to the report of the Central on the Organic Law for the Closure of the Banking Crisis of 1999, with cut to the 20 of February of 2018, several of the debtors looked for to receive the benefits of those norms; for example, that interest would be reduced and only 5% would be charged.
Thus,there were 943 requests for recalculations for a total of 3,133 operation stotaling an initial capital of $ 382.5 million; and that with the sales was $117.1 million. But in the end agreements were reached for 732 operations and they showed accounts receivable for $ 63.1 million. The effective collections of this, at that date, were $ 15.7 million.
In anew attempt, some 4,845 debts were identified for restructuring for $ 658million. But there were payment agreements for $ 5.7 million.
According to the report, the central bank, in compliance with Article 1 of the Law on Restructuring of Public Banking Debts, proceeded to the sale and transfer of the portfolio to Recycob.
The capital of that portfolio was $ 1,036.7 million. According to the law, the value of said portfolio should be calculated for sale at $ 0.01, regardless of whether or not they had guarantees. It was established at $ 43.9 million.
Wilma Salgado, former director of the AGD, says that after 20 years there has been a history of impunity. She warns that through the latest laws it ends uplegitimizing a series of crimes and reducing and even disappearing debts.
This newspaper sought to talk with the manager of Recycob, Hans W. Ehmig Dillon, but the interview did not materialize. (I)