The SBS intervention in Caja Sullana will not affect the performance of this financial sector and the savings of its clients will not be lost, according to Jorge Solis, president of the Peruvian Federation of Municipal Savings and Credit Banks.
Following the intervention of the Superintendency of Banking, Insurance and AFP (SBS) in Caja Sullana, the Peruvian Federation of Municipal Savings and Credit Banks – FEPCMAC assured that this sector will remain stable.
“Municipal banks are sound, the case of Caja Sullana was exceptional (…) It will not affect the financial system or the banks,” indicated Jorge Solis, president of FEPCMAC to the media.
Solis explained that, to date, the global capital ratio of municipal savings banks is 13.78% and is very close to that of banks, which have a rate close to 15%. “The savings banks are solvent in terms of their assets,” he added.
He also guaranteed Caja Sullana customers that their savings will not be lost, since This Friday, July 12, the municipal bank that will assume the assets and liabilities of the entity intervened by the SBS will be announced.
“Rest assured and wait a few days, your savings are guaranteed. Whoever takes on the loan will comply with the conditions agreed upon for their savings: interest and terms. Their money is safe,” said Solis.
Source: Larepublica
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