Monday, March 17, 2014

BanPro is broke

You heard it here first (all of my 4 unique readers a day) BanPro Grupo Promerica (one of the banks here in Nicaragua) is broke.

I thought they were just messing with me, not giving me the money I foolishly deposited into the bank so I got a number of reporters to go in and publicize the story on the radio. It was meant to be just a 30 some odd minute segment but the station was flooded with calls from viewers stating that they too are having the same issue.

The bank, at least the one here in Granada, has been embargoed from receiving any deposits or opening up new accounts. Of course, they already weren't giving people their money so their activity has been reduced to nothing.

Now, the government backed FOGADE (the deposit insurance) only covers up to a measly 10k across all banks accounts. Lots of people will loose a lot of money here.

Another well run bank

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