Banco Leon, could it be???

[NALs]

It's official now, Banco Leon has come into existence. The question now is whether this bank will become a prime example of a well run dominican bank, another baninter, or simply one big failure. What do you think?

[calamardoazul]

The bank is going to do very well, those guys know how to do business...

[Drake]

Any bank that is owned by a family group and does not have to answer to shareholders is a cause for concern. Look at the recent experience.
It must be said that the Leon Jimenez family are one of the most intellectual and well prepared in the country. Their products sell not only well nationally but also internationally. I recently visited a museum they established in Santiago exhibiting their story and it was very impressive.

[roca]

Assuming Philip Morris (and I wouldn't be surprised) is involved in the purchase I see no reason for it to be another Baninter or Bancredito. Philip Morris will have no part in any ilegal stuff. I remember a while back rumor had it that the Leon had many problems with PM, because the Leons had to many family members working inside Marlboro and Presidente. There was also an issue with having businesses inside the business and PM did not go for that.
I see no prblems with LEON BANK, at least for now.

[calamardoazul]

It's Altria one of the 30 Dow Jones companies

P.S. don't pick on me yet. I already know it's the same group with a new name

[Porfio_Rubirosa]

Are you sure that it was Philip Morris that had the interest, rather than its former subsidiary Miller Brewing. I point this out because PM sold Miller to South African Breweries. One might presume that Miller's interest in Presidente went with it, though I'm not sure. Beer and tobacco may not have been treated the same way. The exact details of this relationship have always been complicated and somewhat hidden.

In any case, is there really reason to believe that Altria Group is involved in Banco Leon at all?

Finally, the way Hippo is governing, any bank could lose a ton of money. At some point, even the Leons would have to cut and run. The Grullons too, except where would they run to?

[Escott]

The positive side of this story is that they may know when the DR has hit the bottom and timing may be the key here.