Wednesday, August 12, 2015

Regulators open to offers for Panama bank

The reorganization committee of Banco Universal started last week the process of sending letters to all general license banks to participate in the sale process of the company. Banco Universal was intervened by the regulators back in June 2015 and is one of the smallest banks of the Panamanian banking system.

The process of receiving proposals will be open for 20 days, said Gustavo Villa, secretary general of the Superintendency of Banks of Panama (SBP).  Those interested in acquiring the operations of Banco Universal  will have 20 days, starting August 10, to submit their bids.

In negotiating Banco Universal operations there are two possible scenarios: the purchase of the loan portfolio, or the purchase of portfolios, plus deposits.

Interested parties will have available a virtual data room with general information about the bank after signing a confidentiality agreement. They should express a non-binding offer at that time, and if they are interested or not to continue in the process.  The entire sale process is expected to last between 90 and 120 days.

BANCO UNIVERSAL, S.A. (under intervention)
FINANCIAL STATEMENTS (in thousands of dollars)



June 2015



LIQUID ASSETS
61,803.78
Local Deposits in Banks
22,763.98
At Sight
12,463.89
Timed Deposits
10,300.09
Foreign Deposits in Banks
31,053.59
At Sight
13,753.59
Timed Deposits
17,300.00
Minus Reserves
0.00
Local
0.00
Foreign
0.00
Others
7,986.21
LOANS
226,580.78
Local
230,685.62
Foreign
0.00
Minus Reserves
4,104.84
Local
4,104.84
Foreign
0.00
INVESTMENTS IN SECURITIES
40,148.80
Local
5,072.15
Foreign
35,079.65
Minus Reserves
3.00
Local
3.00
Foreign
0.00
OTHER ASSETS
32,278.07
Local
31,826.34
Foreign
451.73
TOTAL ASSETS
$360,811.42
DEPOSITS
306,704.08
Local
293,983.96
Government-owned
0.00
Of Individuals
285,107.40
At Sight
41,423.46
Timed Deposits
188,425.32
Savings
55,258.61
From Banks
8,876.56
At Sight
4,876.56
Timed Deposits
4,000.00
Foreign
12,720.12
Government-owned
0.00
From Individuals
0.00
At Sight
0.00
Timed Deposits
0.00
Savings
0.00
From Banks
12,720.12
At Sight
9,220.12
Timed Deposits
3,500.00
LIABILITIES
411.63
Local
411.63
Foreign
0.00
OTHER LIABILITIES
10,372.40
Local
10,345.12
Foreign
27.28
EQUITY
$43,323.31
Capital
32,450.98
Capital Reserves
0.00
Other Reserves
8,178.94
Dynamic Reserves
2,022.04
Other Reserves
6,156.89
Retained Earnings
8,061.49
Earnings for the Period
617.01
Gain or Loss in Securities available for Sale
(5,985.10)
Subordinated Debt
0.00
LIABILITIES AND EQUITY
$360,811.42

For full text see http://www.critica.com.pa/nacional/el-proximo-lunes-inicia-proceso-de-venta-del-banco-universal-401034
http://www.midiario.com/uhora/nacionales/banco-universal-entra-en-el-proceso-de-venta
Statements from superbancos.gob.pa