In recent days, the Superintendency of Banking, Insurance and AFP (SBS) has launched an intervention process in two savings and credit cooperatives due to irregularities detected. These actions have generated concern among the members of these entities and the general public.
The measures adopted by the SBS are part of an ongoing effort to maintain the integrity of the Peruvian financial systemThe intervention seeks not only to correct the deficiencies found, but also to prevent future problems that may affect the trust of members in these cooperatives.
Which cooperatives have been intervened?
Latin American Savings and Credit Cooperative Peru Limited
The SBS intervened the Latin American Savings and Credit Cooperative Peru Limited due to solvency problems and failure to comply with current regulations. Irregularities in financial management put members’ funds and the stability of the cooperative at risk.
Quillabamba Savings and Credit Cooperative
Another affected cooperative is the Quillabamba Savings and Credit Cooperativewhich also had deficiencies in its administration. The SBS detected liquidity problems and governance failures, which led to intervention to protect the interests of the partners.
Reasons for the intervention
- Solvency and liquidity problems.- Both cooperatives had serious solvency and liquidity problems, meaning that they could not meet their financial obligations. These deficiencies put the stability of the cooperatives and the savings of their members at risk.
- Deficiencies in governance.- The SBS found significant flaws in the governance of the intervened cooperatives. The lack of adequate leadership and efficient internal controls contributed to poor management and financial irregularities.
What is the impact of the measures taken by the SBS on these cooperatives?
The measures were given through SBS Resolution No. 02514-2024 and SBS Resolution No. 02507-2024 and prevents cooperatives
- Take legal or administrative action to collect outstanding debts.
- Continue to enforce court rulings issued against him.
- Establish liens on any of its assets as collateral for its obligations.
- Make payments, advances or compensations, or assume responsibilities on your behalf, using funds or assets belonging to you and in the possession of third parties.
- Impose precautionary measures on their assets.
Steps to follow after the intervention
Audit and restructuring
The SBS will conduct a thorough audit of the operations of both cooperatives to identify all existing problems. This process is crucial to understand the extent of the irregularities and plan the restructuring necessary to ensure the long-term viability of these entities.
Communication with partners
It is essential that cooperatives maintain transparent and constant communication with their members during this period. The SBS will require that members be informed about the progress of the intervention and the measures being taken to protect their funds.
Implications for the cooperative system
- Confidence in the system.- The intervention of these cooperatives could have a significant impact on public confidence in the cooperative system. It is vital that the SBS and the cooperatives work together to demonstrate that appropriate measures are being taken to correct deficiencies and ensure financial stability.
- Improved regulation.- The intervention also highlights the need to improve the regulation and supervision of the cooperative system in Peru. The SBS should review its policies and procedures to prevent future irregularities and strengthen confidence in these entities.
Source: Larepublica

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