SBS declares in dissolution 28 savings and credit cooperatives in Peru for not submitting their financial statements


The SBS has appointed a temporary administrator who will assume the representation of said dissolved cooperatives.

The Superintendency of Banking, Insurance and AFP (SBS) declared this Thursday the dissolution of 28 savings and credit cooperatives in Peru for being involved in the cause of inactivity within the framework of its powers of supervision and regulation.

In the text published in El Peruano, the entity explains that it is the cause of “planned inactivity”, which occurs when it is proven that the cooperative does not send its financial statements.

In view of this, the regulations of the SBS stipulates that when Cooperatives of saving and credit Level 1 or 2 present such inactivity, the institution has the power to declare the dissolution and designate a temporary administrator who will assume the representation of the cooperatives.

Tres Molinos Savings and Credit Cooperative, San Bartolomé del Altiplano Savings and Credit Cooperative Ltd., Santa Fe-Perú Savings and Credit Cooperative Ltd., Sol Amazónico Savings and Credit Cooperative Ltd., Savings and Credit Cooperative Virgen de la Puerta , Virgen de Nitape Savings and Credit Cooperative, 21 de Julio Ltda. Savings and Credit Cooperative, Yanawara Savings and Credit Cooperative, Crecemype Savings and Credit Cooperative, Credieden Limited Savings and Credit Cooperative, Credirapidoperu Savings and Credit Cooperative.

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The list continues with Creditos Solidarios Peru Savings and Credit Cooperative, El Buen Sembrador Savings and Credit Cooperative, El Emprendedor Savings and Credit Cooperative, SME Fund Savings and Credit Cooperative, Inversiones Crediticias Ltda. Savings and Credit El Asesor, American Savings and Credit Cooperative, Centrobank Savings and Credit Cooperative, Confiando Savings and Credit Cooperative, Cordillera Escalera Ltda. Savings and Credit Cooperative, Ministry of Interior Servers Savings and Credit Cooperative Ltda. – Cosermin, Mosoq Hillariy Limited Savings and Credit Cooperative, Musuq Ayllu Savings and Credit Cooperative – Aymaraes-Apurímac, Investments Group Savings and Credit Cooperative, Unión Progreso Group Savings and Credit Cooperative, Primavera Savings and Credit Cooperative, Prosperando Savings and Credit Cooperative.

The aforementioned cooperatives are involved in the cause of inactivity described in sub-numeral 7 of numeral 8.1 of article 8 of the Registry regulations, for not having submitted their financial statements for the periods of December 2020; March, June, September and December 2021; and March, June and September 2022.

Savings and credit cooperatives not authorized to receive resources from the public (Coopac) are one of the oldest social cooperation vehicles in Peru.
Savings and credit cooperatives not authorized to receive resources from the public (Coopac) are one of the oldest social cooperation vehicles in Peru.

In application of article 9 of the regulation of Special Regimes, from the date of publication of these resolutions the aforementioned Cooperatives of saving and credit they are prohibited from initiating judicial or administrative proceedings against them for the collection of debts at their expense; and prosecute the execution of judicial resolutions issued against these cooperatives.

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It is also prohibited to establish liens on any of the assets of the aforementioned cooperatives, as a guarantee of the obligations that concern them; make payments, advances or compensation, or assume obligations on behalf of the cooperatives, with the funds or assets that belong to them and are in the possession of third parties; and constitute precautionary measures against the assets of the cooperatives.

The Cooperatives of saving and credit Authorized to receive resources from the public (Coopac) constitute one of the oldest social cooperation vehicles in Peru, and its importance for the economic development and financial inclusion of the country is undeniable, especially in those most remote and vulnerable sectors of Peru.

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