PNB announces an extension on its sale process

After the establishment of the deadline for the sale of the Pacific National Bank (PNB for its Spanish acronym), based in Miami, for March 28 (tomorrow), an official source of the financial institution reports that the sale process will continue after the given date.

When an extension to the deadline is confirmed, it automatically discards any possible liquidation of the bank.

Likewise, it was also noted that the trustee in charge of the sale, Robert Barnett, will continue to work “directly with potential buyers.”

Pacific National Bank

The Pacific National Bank is owned by the Banco del Pacifico Ecuador, which now belongs to the National Finance Corporation (CFN) for its Spanish acronym, since the president, Rafael Correa, allowed the transfer of shares that belonged to the Banco Central del Ecuador, in November 2011.

This transfer, which, according to experts, violates the standards set in the U.S., was the cause for the supervisory authorities of that country to decided that sale.