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The National Finance Corporation (CFN) analysed a possible swap of the 2012 and 2030 bonds for shares of Pacific National Bank (PNB), a subsidiary of Pacific Bank in Miami, as part of the sale of the company. In a confidential document, sent by CFN to the Finance Ministry last...

The new requirements for the mortgage credits, in order to avoid non-payment, decreased the volume of approved mortgages by 15% in the private sector. The Ecuadorian Central Bank (Spanish acronym BCE) indicated that $656,9 million of mortgage credit were approved in 2011 against...

Gutemberg Vera and his son Alembert Vera, defence attorneys of the Ecuadorian President Rafael Correa, have been involved in the sale of the Pacific National Bank (PNB), which should materialize in March this year, and in the eventual sale of Panama’s Pacific Bank. The...

The Spanish group BBVA sold 64.3% of its shares in the company AFP Provida de Chile, this operation includes the delivery of the subsidiary AFP Genesis Ecuador, which manages about $ 122 million in assets. The new owner is the United States company MetLife, which seeks to...

From Monday, Ecuador will start the export of flowers to the U.S. market because of Valentine’s Day. On the day of love and friendship, people all over the world will express their love with  gorgeous Ecuadorian flowers. The Ecuadorian flower sector  began last Monday with great...

After last Monday, the candidate-president seeking for a third term, Rafael Correa, announced that his government will subsidize the salary increase of small media journalists, the Ecuadorian Association of Broadcasters (AER for its Spanish acronym) analyzes the extent of that...

  According to the Preliminary Overview of the Economies of Latin America and the Caribbean prepared by the Economic Commission for Latin America and the Caribbean (ECLAC), Ecuador is one of the Latin American countries with higher levels of public spending over its Gross...

For the Pacific National Bank (PNB) belonging to Banco del Pacifico de Ecuador, based in Miami, to be sold properly, they will have to resolve pending intervention measures with U.S. regulators It should be noted that next March 28 is the deadline for the sale of the PNB, after...

To ensure reproduction of the red and blue crustacean type, the crab ban started today and it will be in force for a month. In Guayaquil, the crabbers began their working day, yesterday, early in the morning in the mangroves of Puerto Rome and from the port of Caraguay, for the...

PNB fails on laundering After that on March 23, 2011 the Pacific National Bank or PNB (Part of the Banco Pacifico Ecuador) failed to establish and maintain procedures to ensure control of money laundering, according to the Office of the Comptroller of the Currency (OCC) of the...