SBS declares the closure of 4 savings and credit cooperatives: which are they and for what reason?

SBS declares the closure of 4 savings and credit cooperatives: which are they and for what reason?

The Superintendency of Banking, Insurance and AFP (SBS) declared the dissolution of four savings and credit cooperatives (Coopac), in accordance with the resolutions published this Friday, January 26 in the Official Gazette El Peruano. Likewise, the entity ordered that the Apoyo Financiero de Arequipa cooperative be subject to its intervention.

In the following note from La República, find out which savings and credit cooperatives were closed and find out the reasons for this legal provision. Let us remember that, previously, the SBS reported on the dissolution process of 22 cooperatives that have new administrators to supervise and carry out their closure.

What are the 4 cooperatives that SBS will close?

Through resolutions 0275, 0276, 0277 and 0278, published in the Standards Bulletin of the Diario El Peruano, the Superintendency of Banking, Insurance and AFP (SBS) announced the dissolution of 4 savings and credit cooperatives not authorized to raise resources of the public (Coopac). Below is the list of these financial entities:

  • Progresa Peruano Savings and Credit Cooperative (Cusco)
  • Invercapital savings and credit cooperative (Arequipa)
  • Tconfia savings and credit cooperative (Arequipa)
  • Cristo Rey Savings and Credit Cooperative (Piura).

SBS: for what reason did these cooperatives dissolve?

The reason for the SBS intervention in the four Savings and Credit Cooperatives located in Cusco, Arequipa and Piura, is due to inactivity. That is, all of these entities did not present their financial statements for two consecutive periods within a period of one year or for four alternate periods within a period of two years. Likewise, these SBS resolutions detail the assets of the financial entities, as well as the dates that failed to comply with the regulations.

  • Progresa Peruvian Savings and Credit Cooperative: This entity had assets valued at S/20,000, did not present its financial statements between March 2023 and December 2023, and has Anthony Andrés Damian Nolazco and Leslie Maxciel Escobar Farfán, as temporary administrators.
  • Invercapital Savings and Credit Cooperative: it did not submit its financial statements for two consecutive periods in one year, it had assets of S/20,000 and its new temporary administrators are Rocío La Rosa León and Edwin Florentino Chávez Collazos.
  • Cristo Rey Savings and Credit Cooperative: Said company had assets of S/2 million 992,501, but did not comply with presenting its financial statements between March 2023 and December 2023. Kimerly Luz Judith Benavente Rubina and Ingrid Vanessa Escobar Ramírez were appointed as temporary administrators.
  • Tconfia Savings and Credit Cooperative: had assets valued at S/2,106. However, it did not submit its financial statements for two consecutive periods within a period of one year. Its new temporary administrators are Edwin Florentino Chávez Collazos and Rocío La Rosa León.

SBS intervenes in cooperatives in Arequipa: what is the reason?

In accordance with resolution No. 00275-2024, the Superintendency of Banking, Insurance and AFP (SBS) ordered the submission of the Cooperativa de Ahorro y Crédito Apoyo Financiero Arequipa to the intervention regime “because it is subject to the cause of total loss of the social capital and the cooperative reserve”. That is, as of the third quarter of 2023, a negative equity amounting to S/776,767.33 was reported, in order to protect the interests of the members of the Cooperative, to the extent that there is no reasonable security for the return of your savings is realized.

Likewise, Gisela Rosa Neyra Quispe and Pierina Alvisy Llanos Romero were appointed as interveners to carry out the respective intervention acts.

Source: Larepublica

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