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Buenos Aires Banco Ciudad Bank's Director Resigns
TUE, FEB 19, 2002    
The Director of the Buenos Aires Banco Ciudad Bank (BCBA), Monica Almada, presented her resignation Monday in the face of accusations that she withdrew her savings from the institution hours before the application of banking restrictions imposed by the government.

In a statement released by local radio on Monday, Almada said: "One has to face the consequences of mistakes made."

Almada became Argentina's first bank executive to resign for evasion of the restrictions on deposit withdrawals. She canceled a 314,600-dollar deposit outside of banking hours on December 30, two days after the maturing on December 28.

Almada was appointed as BCBA director in 1998 under the influence of then Buenos Aires governor Fernando De la Rua.

BCBA's President Roberto Feletti requested Almada's resignation and said if she did not act accordingly, he would send her file to the Ethics Commission of the Buenos Aires local Congress.

Editor:Hope CCTV.com
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