Grupo Penta is seeking to sell investment banking unit Banco Penta, which is immersed in an ongoing scandal involving suspected tax fraud and alleged illegal funding of political campaigns. The group's founding partners, Carlos Alberto Délano and Carlos Eugenio Lavín, who are also implicated in the scandal, have begun a sale process, and local lender Banco Security is the most likely buyer, according to Chilean news site El Mostrador. Banco Bradesco S.A. (BOVESPA:BBDC4) and Credicorp Capital Peru S.A.A. (BVL:CRECAPC1) which could make a move through its local unit IM Trust have also been named as a potential buyer.

Market sources suggest Banco Penta would not be sold for much more than its book value of $255 million, given the reputational damage incurred in the past six months, said El Mostrador.