No moves announced on suspended Bank loans

PANAMA’S  Superintendency of Banks said on Monday, May 9, that under no circumstances has it  made specific recommendations to customers of Balboa Bank & Trust about  the transfer or sale of its loans to other banks

The Bank was part of the Waked family empire before its activities were suspended following moves by the US Treasury and the.Drug Enforcement Agency (DEA) over alleged links to money laundering and drug trafficking.

Ii a statement released on Monday evening the Banking Institution  said that it would be premature to  order or recommend actions to the bank’s customers before the deadline of 30 days extendable awarded to the interim administrator.

according to the Banking Act This administrator is the deadline to present to the Superintendency of Banks the best options and alternatives to achieve a positive and healthy conversion of Balboa Bank & Trust.

TheSuperintendency  stressed that any communication from unofficial sources only have the purpose and objective of creating instability and mistrust, healthy and safe operation of the banking system.