Banco Universal customers can access $2,500

SOME 15,900 account holders at Banco Universal will get a temporary breather following a reorganization decree from The Panama Banking Superintendency (SBP) On Wednesday July 1.

The banks’s operations were suspended June 5 following the arrest of Pipo Virzi. The bank is owned by the Virzi family
The regulator has appointed a board of reorganization that will be led by Jaime Gamboa
The decision was made on the basis of a recommendation by an interim administrator that was delivered June 15 to the SBP.
The process is intended to protect the interests of depositors while preventing possible damage and mitigating risks to the bank’s operation.
Customers will be limited to withdrawals of $2,500. All branches will be available for the transactions, that will start on Monday, July 6 and w will limited to one per customer.