Banco Sudamericano goes into liquidation

The Superintendency of Banks and Insurance of Ecuador ordered the liquidation of Banco Sudamericano SA, saying that there was “solvency problems and repetitive violations to the rules and laws in effect”. This information was disseminated through a statement that the agency placed this morning in its headquarters in Quito.

The Superintendency reported they are orchestrating the mechanisms defined in the law for the proper safeguarding of assets and liabilities of the bank in order to safeguard the deposits of Ecuadorians.

In the statement was also noted that in the coming days they will inform customers and creditors the way in which deposits and payment will be paid

Currently, police protection remains in the headquarters of the institution.