Banks Established in 1986 - Banco Intercontinental, National Irish Bank, South Financial Group, Sparisjooabanki, Banque Populaire Du Rwanda (Paperback)

Chapters: Banco Intercontinental, National Irish Bank, South Financial Group, Sparisjooabanki, Banque Populaire Du Rwanda, Bpi Direct Savings Bank, Falcon International Bank, International Bank of Asia, Lloyds Bank of Canada, Nepal Investment Bank Limited. Source: Wikipedia. Pages: 39. Not illustrated. Free updates online. Purchase includes a free trial membership in the publisher's book club where you can select from more than a million books without charge. Excerpt: Banco Intercontinental (or BANINTER) was the second largest privately held commercial bank in the Dominican Republic before collapsing in 2003 in a spectacular fraud tied to political corruption. The resulting deficit of more than US$2.2 billion was equal to 12% to 15% of the Dominican national gross domestic product. Banco Intercontinental was created in 1986 by Ramon Baez Romano, a businessman and former Industry Minister. His oldest son, Ramon Baez Figueroa, took over the small bank and helped build it into the country's number two private commercial bank. BANINTER grew quickly into a typical family-run conglomerate, buying up companies or controlling interests in firms that touched on nearly every aspect of Dominican life. In the process, Baez Figueroa amassed an empire of varied businesses. Through BANINTER Group, he managed to control the country's largest media group, including Listin Diario, the oldest and leading newspaper; four television stations, a cable television company, and more than 70 radio stations. Baez Figueroa became a man of great influence and power. At his lavish wedding, former Presidents Joaquin Balaguer and Leonel Fernandez signed the marriage document as witnesses. In late 2000, Baez even proposed a "national economic program," which earned him much praise from President Mejia. "Risk, and I'm talking about calculated risk, is proper of all business and of any human activity. "Whoever doesn't understand this can't triumph" Baez said in a ...http: //booksllc.net/?id=232497