Dear Customers,

We provide an update on the liquidation of Euro Pacific Intl. Bank, Inc. (the “Bank”) and Qenta’s migration process.

We have been advised that the Receiver has submitted a final version of the liquidation plan to Puerto Rico Office of the Commissioner of Financial Institutions (OCIF) and awaits formal feedback in order to initiate the process. The Receiver continues to work with all stakeholders to prepare for the liquidation of the Bank and for the eventual distribution of funds to opt-out clients.

Additionally, as stated in the Receiver’s update posted via the Bank’s website on July 17, 2023, we understand the Receiver has set up a separate communication website and customers portal. This portal should assist in providing accurate information on the process as well as allow for the exchange of documents and information related to the liquidation. Details of this portal should be available from the Receiver’s Office.

In parallel, Qenta continues with its own preparation for the migration of opt-in clients pending formal confirmation from the Receiver and OCIF that the liquidation and migration can commence. Further details on the final migration timeline and process will be shared by the Qenta Client Services team once confirmed.

The Bank’s core banking system and e-banking channel ceased to operate on August 23, 2023. As required by OCIF and applicable law, data extracts of all client records have been taken and securely stored. All information required by the Receiver’s Office to facilitate the liquidation and meet his legal obligations has been shared in a secure and structured manner. This comprised a large set of carefully structured data.

Qenta’s team remains excited to have the opportunity to welcome opt-in clients to its eco system and will share more about its services and offerings once we receive the go ahead to commence the migration.

Should you have any comments or questions, please feel free to reach out to our Client Services team at [email protected] and we will be very happy to provide assistance. We also recommend you reach out directly to the Receiver’s Office to utilise the customer communication portal established by that Office for the Bank liquidation.

Sincerely,
Euro Pacific Bank.