With the aim of fostering the exchange of information and permanent cooperation in supervision, the Fifth Supervisory College of Grupo Promerica was held, led by the Superintendency of Banks of Panama (SBP) as home supervisor.
The session – conducted virtually – was attended by the Corporate Board of Directors and senior executives of Grupo Promerica, as well as the regulatory bodies of the countries where the group has operational presence: Panama, Ecuador, Dominican Republic, Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua.
Given the current situation, supervisory colleges are becoming more relevant, since the banking groups with international operations represent significant supervisory challenges for the different regulatory bodies. These gatherings allow to continue strengthening the effective supervision and surveillance work of supervisors to the banking groups with activities in the different jurisdictions, to visualize the evolution of their corporate strategy and, therefore, their risk profile.
Ruth Solano Arregui, Superintendent of Banks of Ecuador, during her participation in the event commented: “This College has been enormously enriching as it permits us, as supervisors, to look, in a holistic manner, how Grupo Promerica is focusing the holding’s strategy.”
On the other hand, Amauri A. Castillo, Superintendent of Banks of Panama, said that: “The contributions that have been made during this productive work session will contribute to reinforcing our supervisory work and provide the respective support to Grupo Promerica, to maintain financial stability in the different countries where it participates.”
