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Banco Finansur hit with another 30-day suspension amid offers

Banco Central de la República Argentina has again extended the suspension of troubled Banco Finansur SA for 30 days, according to a regulatory filing dated Feb. 2.

The decision comes as Banco de Galicia y Buenos Aires SA and others have made bids to acquire certain assets and assume some privileged liabilities of the lender in recent weeks.

The central bank first imposed a 30-day suspension on Banco Finansur on Nov. 9, 2017, which it extended the past two months. The decision has restricted the bank from attending to client transactions.

The bank has stressed that the main purpose of the recapitalization or restructuring process is to protect depositors and employees.

Banco Finansur is for sale following a tax evasion investigation into one of its owners, Cristóbal López. The bank will reportedly be liquidated if a plan to recapitalize it cannot be fulfilled.