Banco Múltiple Activo Dominicana, SA, announced on Friday its voluntary exit from the National Financial System. The banking entity plans to carry out this action by submitting a request to the Superintendency of Banks of the Dominican Republic through the Subsidiary Mechanism for Voluntary Liquidation. According to a statement released by the bank, citizens who have deposits, accounts receivable, or any other type of credits with the bank are advised to visit their office located on Tiradentes avenue, Galerías de Naco. The office will be open on weekdays from 8:00 a.m. to 5:00 p.m. and on Saturdays from 9:00 a.m. to 1:00 p.m. This compensation process will be available for a period of 180 days, during which all deposits and liabilities will be compensated. Despite the exit from the National Financial System, Banco Múltiple Activo Dominicana assures its users that they can continue making transactions with their credit and debit cards, visa banco active, as well as conducting credit card payments, loans, and other transactions through internet banking.
Banco Múltiple Activo Dominicana started its operations in the Dominican Republic in June 2016 and currently has four branches. According to the Superintendency of Banks, the bank manages assets worth approximately RD$2,130.82 million.
The bank has officially requested to leave the National Financial System according to relevant laws and regulations. Debts such as deposits or accounts receivable can be resolved by visiting their office on Tiradentes avenue, Galerías de Naco. The voluntary liquidation process will take 180 days, and all deposits and payable liabilities will be compensated within this period.