SBS Mayor confirms that Credicoop Arequipa went bankrupt

Credicoop Arequipa, which has 96 agencies nationwide, went bankrupt. This was confirmed by Mario Zambrano, superintendent of supervision of cooperatives of the Superintendency of Banking and Insurance (SBS), the same one that said financial savings and credit entity intervened this Tuesday, November 30.

The SBS action implies the suspension of Credicoop’s operations, given the total loss of the social capital and cooperative reserve, as specified in SBS Resolution No. 03904-2021. According to Zambrano, this means that: “in the first place, the cooperative has no capital, it has no equity, it has negative equity. Specifically, it means that the total assets of the cooperative are not enough to pay the total deposits ”.

Zambrano gave RPP details about what will happen now that the cooperative’s agencies have stopped serving. He explained that, in the first place, the intervention stage will make it possible to identify the assets that Credicoop has. Next, the process will go to a next instance, which is the dissolution and liquidation, which will be in charge of third parties that, with the information collected on the current diagnosis of the financial company, will proceed according to the law.

According to priority, labor rights are respected first and Depending on the real situation of the cooperative, it will be determined whether there will be the possibility of returning a part or none of the deposits to the members.

“Remember that this cooperative has already lost assets, it means that if you liquidated all your assets, it would not be enough for the deposits. This cooperative has, approximately, according to Credicoop information, some almost S / 500 million in deposits and with the June figure, it already has a negative equity of S / 199 million. In other words, there is already part of the deposits that were lost ”, explained the mayor in RPP.

Zambrano added that the intervention will not only verify the total number of depositors and the amounts, but also the current loans. “TAn important way to know the total number of depositors is to know the assets, because it is finally those assets that would allow at some point a type of, eventually, return that could be given ”, manifested.