Following the intervention of the Superintendency of Banking, Insurance and AFP (SBS) in the Sullana Municipal Savings and Credit Bank, Piura Box has assumed responsibility for all clients, assets and liabilities of this entity. The intervention was due to the accelerated deterioration of the solvency of Caja Sullana, which led the SBS to take measures to protect savers.
According to a statement issued by Caja Piura, the service for former Caja Sullana customers will begin on July 25. The statement details that customers will be able to carry out their transactions at certain service points. In addition, it is guaranteed that savings and credit payments are fully insured in the new entity.
Caja Piura will serve former Caja Sullana clients: this is the schedule
Caja Piura reported that the attention to former clients of Sullana Box The transition will begin on July 25. This transition will be carried out gradually to ensure an orderly and efficient process. In the first stage, savings account customers will be served, followed by credit customers, and finally suppliers and other customers.
The bank also stressed that in the case of loan payments, payments can now be received and new loans can be taken out at Caja Piura offices. Finally, it explained to savers that their funds and conditions will remain unchanged, guaranteeing the stability of their investments.
What will happen to the public’s savings in Caja Sullana?
Jorge Carillo Acosta, financial expert, pointed out that savings, accounts CTS and term deposits of Caja Sullana clients will be transferred in full to Piura BoxThis means that there will be no loss of capital or interest generated to date.
The original conditions of rates, terms and currency will also be maintained, at least until the corresponding contracts expire. This measure ensures that customers are not affected by the change of entity and can continue to use their accounts and carry out transactions normally.
What happens if you have requested a loan from Caja Sullana?
Specialist Carrillo explains that payments for the installments of the loans that clients had at Caja Sullana must now be made to Caja Piura. As with the deposits, the loans will maintain the original conditions established with Caja Sullana, including installment, rate, term, currency and guarantees.
Why did the SBS intervene in Caja Sullana?
The Superintendency of Banking, Insurance and AFP (SBS) intervened the Caja Municipal de Ahorro y Crédito Sullana due to a significant deterioration in its solvency. In a period of twelve months, the entity reduced its assets by more than 50%, which generated concern about its ability to meet its financial obligations.
Among the internal factors that contributed to this situation are deficiencies in risk management, inadequate credit granting policies and flaws in its internal control system. Additionally, external factors such as states of emergency, the COVID-19 pandemic, social conflicts and weather phenomena exacerbated Caja Sullana’s financial situation.
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.
