The Superintendency of Banking, Insurance and AFP (SBS) announced that the official resolution that provides for the dissolution and the beginning of the liquidation process of the Rural Savings and Credit Fund Raíz SAA (CRAC Raíz) will be published tomorrow, after this entity intervened due to the significant deterioration of its solvency. Thus, the timely […]
Tag: sbs
SBS intervened in Caja Raíz: what will happen to the savings and the CTS of its clients?
Given the significant deterioration in the solvency of the Rural Savings and Credit Fund Root SAA. (CRAC Raíz), the Superintendency of Banking, Insurance and AFP (SBS) had to intervene to safeguard the interests of the saving public and the stability of the financial system. In this way, the entity ceased its operations and its administration […]
SBS appoints representatives for the intervention process to Caja Rural de Ahorro y Crédito Raíz
Officials will supervise the transfer of assets and liabilities of the aforementioned financial entity, which will be subject to specific restrictions throughout this procedure. Join the WhatsApp channel of La República Price of the dollar today in Peru: what is the exchange rate for this Friday, August 11? SBS intervened in the Rural Savings and […]
Nearly 80% of Reactiva Peru 1 loans have already been canceled
Of the S/57,863 million placed in credits with guarantee state of the Reactiva Peru 1 program launched in the pandemic, 79.09% of the loans granted to companies have already been paid, according to information from the Superintendency of Banking, Insurance and AFP (SBS) with a cut-off of May 31 of the present anus. According to […]
SBS intervened in the Rural Savings and Credit Fund Raíz for financial insolvency
The Superintendency of Banking, Insurance and AFP (SBS) informed that this Thursday, August 10, it has subjected the intervention regime to the Rural Savings and Credit Fund Raíz for financial insolvency. Jorge Mogrovejodeputy superintendent of banking and microfinance at The SBS detected that Caja Raíz’s losses totaled S/44.3 million, therefore effective equity was reduced by […]
SBS declares the dissolution of 11 savings and credit cooperatives nationwide
The Superintendency of Banking, Insurance and AFP (SBS) declared the dissolution of 11 savings and credit cooperatives at the national level for being involved in causes of inactivity. These are the cooperatives Sol de Arequipa Limitada, Progremos Unidos, Sol Naciente, Finanzas el Metro, Del Norteño, Credifinca, Crecer Family, Coopesur, Ancash, Alto Chicama, and Raíces Limitada. […]
AFP: profitability of funds returned to the positive tranche
During the past year, the profitability of three of the four funds managed by the AFPs dragged losses that affected only their affiliates. On the other side of the coin, the administrators continued to receive strong income, to the point that their profits exceeded S/471 million, 13% higher than what was seen in 2020, according […]
The AFPs earned more than S/248 million in the first half of 2023
From January to June this year, the four Pension Fund Administrators (AFP) obtained a profit of S/248 million 367,000which represents a growth of 12.4% compared to the same period in 2022, when net profit was S/220 million 911,000, according to official data from the Superintendency of Banking, Insurance and AFP (SBS). According to the financial […]
SBS facilitates the judicial collection that the AFPs require from employers with unpaid contributions
More than S/33,000 million are owed by public entities and private companies to the Pension Fund Administrators (AFP). This corresponds to pension contributions not made despite having been deducted from workers’ salaries. Given this, the Superintendency of Banking, Insurance and AFP (SBS) has issued provisions so that the collection of these debts can be more […]
What happens if my company discounted the AFP, but did not make the deposit?
Every month, companies retain 10% of the remuneration of the worker to later be transferred to his individual capitalization account of the Pension Fund Administrator (AFP) to which he is affiliated. This amount is key, because it will ultimately be a savings that will later be destined for retirement at the end of your work […]