José Fernando Romero left the presidency of Cavali after Credinka’s intervention

Jose Fernando Romeromanaging director of Diviso Grupo Financiero, left his position as director, chairman of the board and member of the Audit and Risk Committee of Cavali following the intervention of the Superintendency of Banking, Insurance and AFP (SBS) in the Credinka Financial Company.

Diviso Grupo Financiero owns Credinka and, in turn, Cavali’s statutes establish that he cannot be part of the board of directors “those who have been declared insolvent, intervened or are in the process of asset restructuring, as long as that situation lasts”.

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Cavali is the Securities Clearing and Settlement Institution, part of the BVL Group, and its objective is to carry out the registration, custody, clearing and settlement of securities of non-mass issuance instruments, as well as derivative instruments authorized by the SMV.

Credinka was intervened by the superintendency and, according to the agency, the measure was taken due to a deterioration in the solvency of the entity. Thus, the assets decreased by 59.53%.

In 2021, Credinka had a net loss of 50.9 million soles and in 2022 it was 36 million. In 2023 the loss was 38.7 million.

The Credinka financial institution was part of the Programs for Strengthening the Assets of Microfinance Institutions, and for this reason the SBS will call for a tender by invitation, in which a block of assets (credits) and liabilities (deposits) will be auctioned. This block will include all the deposits, according to the Gestión media.

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