Caja Sullana’s website crashes after SBS intervenes in financial institution

Many of the savers expressed their concern, as was the case of an elderly woman who had part of her savings in this box. “They are some savings, it is not much but for me it is important. I need them, I have this fear that they will not return it to me (…) I have been in this box for years, since it began to operate and it was just a house,” said Santos, an elderly woman who preferred not to give her last name, and who added that the employees of the financial institution always assured her that her money “was well protected.”

The money of Caja Sullana savers will be returned in full, according to the announcement made by the president of the Peruvian Federation of Municipal Savings and Credit Banks (FEPCMAC), Jorge Solís Espinoza. “Savers will recover all of their savings.”

Caja Sullana will be transferred to another entity that meets the requirements (amount of assets, solvency and quality of risk management). To do so, a public tender will be held. The winning company will be announced on Friday, July 12. Therefore, savers’ money will be safe in the new company that manages it.

Thousands of users are unable to access information about their money on the official Caja Sullana website.

It is reported that different users and savers of Caja Sullana have approached the exterior of the main headquarters.
Photo: Almendra Ruesta/LR

Likewise, after several questions about the return of money from various savings affiliated with this fund, the president of FEPCMAC, Jorge Solís, announced that all the money saved by the Sullana fund users will be returned.

“This is not a liquidation, Caja Sullana is not being liquidated,” Solís Espinoza said in a press conference.

The president of the Peruvian Federation of Municipal Savings and Credit Banks (FEPCMAC), Jorge Solís Espinoza, told citizens to remain calm. “Rest assured, wait a couple of days, your savings are fully guaranteed. And the entity that assumes the assets and liabilities of Caja Sullana will have to comply, by regulatory mandate, with the conditions agreed upon with those savings, with the agreed interest rates and terms,” ​​Solís Espinoza said.

Following the intervention by the SBS, it has been reported that the Sullana branches located in the Cusco region have closed their doors.

The Municipal Savings and Credit Bank (CMAC) of Sullana was intervened by the Superintendency of Banking, Insurance and AFP (SBS) due to the significant deterioration of its solvency, which was caused by deficiencies in risk management, in the credit granting policy and in its internal control system.