Reactions to Territorial Bank closure

Scenes of customers with several questions and concerns about the future of their funds were lived in Guayaquil after the Territorial Bank closed its doors to customers without any explanation.

Hundreds of savers are immersed in uncertainty and despair

Jose Cueva, 59, is retired and works in a small business that promotes natural products. “Until yesterday the bank worked. During the night I got $ 20 of the deposited money for my retirement. Now I have no such compensation. I’m on the streets.” He left frightened, hurried to his house to see what had happened.

Ruben Molina, 41. With the closing of the entity he wonders what will happen to the $ 20,000 he had in his savings account. Molina has eye cancer, is a doctor and works at the Ministry of Health of Guayas. “I feel cheated. The Superintendence of Banks was allegedly watching this entity. This catastrophe should not be happening.” Molina spends $ 50 a week in drugs not only for cancer but also for his hypertension.

Jorge, a retiree who declined to give his last name, talks with protest tone along with other affected people. He has kept economic activity in the bank for 6 years. He was confused by the news. Now he will not have access to the $ 80,000 he kept in a policy. “They never informed me on the situation. I’m scared, all my savings and my years of work disappear now.”

People gather around the closed doors of the Territorial Bank and read the statement.

Shareholders without rights

The main shareholder of the entity is Francesco Zunino Anda. According to the Superintendent of Banks, Pedro Solines, the option of applying legal action against the bank representatives is being considered.

However, the Financial Institutions Act provides that “the rights of its shareholders must be suspended and automatically cease to hold office, board members and legal representatives without a claim for compensation.“