Honduran banks afraid of government intervention
The election of former Foreign Minister Milton Jiménez as president of the National Banking and Insurance Committee, following the removal of Gustavo Alfaro, caused unrest in the banking sector.
Monday, January 19, 2009
As published by elfinancierocr.com: "Alfaro was removed after presenting a report on the deposits of honduran banks in foreign entities, which, according the the Central Bank of Honduras, grew in over $200 million in 2008, causing a decrease in financial liquidity and high interest rates".
Following the resignation of its general manager, an oversight board will assume the administration of the Honduran Telecommunications Company.
During the first semester of 2008 the banks increased their earnings by 18 percent in comparison to the previous year.
The Honduran Association of Banking Institutions is calling for a balance between regulation and promoting development, protesting against unrealistic regulations nationwide.
The Superintendency has taken administrative control of Seguros Confianza, as part of a process that began in November 2015 with the detection of a problem of insufficient capital.
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