The executive president of the Bank of Pacific, Roberto Gonzalez, considers that the sale of the financial institution should be resumed once “look serene” the political situation of Ecuador.
This Monday, July 17, in an interview in Direct contact of Ecuavisa, the official recalled that if a binding offer was received to acquire the company, but the proposed price was much less than the 840 million dollars that they had set out to sell the institution.
“A single dollar below book value is no longer acceptable. In this case, the offer that was received a long time ago was very far away,” said González, who did not reveal which business group wanted to acquire the financial institution.
The process to sell Banco del Pacífico It was declared void in November of last year..
Although the sale did not materialize, the Pacífico is profitable and is revaluing, as stated by González. According to the president, as of June 30, 2023, the institution already cost about 910 million dollars.
In the first half of 2023, Banco del Pacífico reported a net profit of $65.3 million. Throughout 2022, the institution’s net profit was 108.2 million.
The National Finance Corporation (CFN) owns 100% of the shares of Banco del Pacífico, however, 90% of the funds managed by the institution, more than 5.4 billion dollars, are private (individuals and companies).
For Gonzalez, it is “extremely necessary” insist on the sale of the bank, since the stability of the organization would not be put at risk due to political decisions.
Banco del Pacífico was founded in 1972, currently has 77 branches nationwide and has close to 2.7 million clients.