Entity won invitation contest called by SBS, after the intervention of CMAC Sullana. The terms and conditions previously agreed with savers will be respected
The Municipal Savings and Credit Fund of Piura, which has a 16% stake in this microfinance segment, was awarded the equity block of assets and liabilities from the balance sheet of the Municipal Savings and Credit Fund of Sullana (CMAC Sullana) under the Special Transitional Regime, which includes all deposits, covered and not covered, by the Deposit Insurance Fund, reported the Superintendency of Banking, Insurance and AFP (SBS), after the opening and review of the proposals presented by the interested entities.
The day before, the SBS announced the intervention of Caja Sullana (which as of May 31, 2024 had a portfolio of almost one million deposits corresponding to natural persons), due to an accelerated deterioration of its insolvency.
“Caja Piura won because it has the best solvency and liquidity,” Jorge Mogrovejo, deputy superintendent of the SBS, told reporters. He added that the integration will be easier given its regional proximity.
This entity, according to the Peruvian Federation of Municipal Savings and Credit Banks (Fepcmac), will host all of Caja Sullana’s assets and liabilities. Therefore, clients’ funds and resources will not be compromised.and will not be affected by the Deposit Insurance Fund (DIF): your money will not be lost.
Until before his disappearance, Sullana Box was part of the Asset Strengthening Program for microfinance institutions, presented by the Ministry of Economy and Finance (MEF) in May 2023, in order to guarantee the continuity of its operations.
The SBS highlighted that CMAC Sullana depositors and debtors under the Special Transitional Regime will become clients of CMAC Piura, respecting the terms and conditions initially agreed uponThe winning entity will inform its new clients of the start date for their service, after completing the corresponding administrative procedures.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
