According to the president of the financial entity, the sale process is in an intermediate phase. This means that the advisory bank has invited more than 30 international entities that will analyze the valuation and other preliminary information.
The sale process of Banco del Pacífico is in an intermediate phase, according to its Executive President, Roberto González.
“The bank’s valuation was delivered a month ago. There is enormous interest in this process, abroad. We are in the intermediate phase, where the advisory bank invited more than 30 international entities to analyze the preliminary information”, he explained in Ecuavisa.
González estimated that in the first week of July they will know how many entities have shown interest.
Then, a confidentiality agreement will be signed and the interested parties will access information from Banco del Pacífico, to verify the data provided, they will make their analysis and their offers.
The president of the bank clarified that no Ecuadorian can participate in the process.
“The terms of reference exclusively contemplate international financial entities, with solvency, size and with access to capital markets,” he explained.
According to the schedule, between September and October it will be known which entities are firmly interested and the Superintendence of Banks must qualify the suitability of the bank.
González hopes that the sale will be finalized before Christmas. Meanwhile, the entity has recorded a cumulative profit of USD 40 million as of May 2022.
The bank, which has 2.7 million customers, projects earnings of between $90 million and $100 million annually.