SBS closes another cooperative in Arequipa for being without funds

Arequipa. The Superintendency of Banking and Insurance (SBS)reported yesterday that the South American Investment Group Cooperative (GIS), would be intervened. The decision was made because it lost all of its social capital and the cooperative reserve.

According to SBS resolution 1280-2023, of April 11, At the end of 2022, the entity registered a negative equity (loss) of 17 million 191 thousand 547 soles. This far exceeds the capital of the cooperative, which is a little more than 11 million soles. According to the balance delivered by Inversión Sudamericano, the deficit was generated by the poor results that occurred between the years 2019 and 2022.
Due to the critical situation, the SBS decides to intervene in the entity. Control of the offices was taken yesterday and Pablo Cosar Ramos and Ytalo Gutiérrez Cruz were appointed as auditors of the cooperative.

Worry

Some partners, who went to the premises of the entity located on Alcides Carrión avenue in the La Pampilla sector, in the José Luis Bustamante y Rivero district, were surprised that they could no longer pay their debts, nor withdraw their savings.

In the local, the SBS published communications that account for the closure of the entity and where the partners must communicate to gather information.

The SBS communicated in the afternoon that partners who have outstanding debts must continue to pay them. Different bank accounts were enabled where payments must be made.
The closure of this cooperative is added to others that occurred last year and in this 2023. One of the last cases was from Alto Selva Alegre. Disbanded due to inactivity. He did not present balance sheets.v