The name on the facade: CrediExitowith a rising bar graph, promised prosperity, but the financial statements carefully evaluated by the Superintendency of Banking, Insurance and AFP (SBS) showed a organizational failure.
After months of uncertainty, the resolution to intervene SBS has confirmed what many feared: the Success Cooperativebased in Arequipa, is insolvent.
It all started with inconsistencies in your financial statementsdetails the SBS. Perhaps the fact that the regulator must supervise more than 180 savings and credit cooperatives makes more than one person think that wouldn’t notice.
However, after the presentation of the financial statements in March 2025, the regulator noted what it calls “accounting deficiencies”, for nothing more and nothing less than S/595,752which affected various financial items with an impact on the cooperative’s equity accounts. With which he ordered its correction.
| Concept | Adjustments as of 03/31/2025 (S/) |
| Yo. Cash shortage of S/ 94,027.67 | – 94,027.67 |
| ii. Refinanced loans not reported as such that generate provision deficits for S/95,054.14 and return of income for S/109,171.73 | – 204,225.87 |
| iii. Discrepancies in the risk classification of debtors that generate provision deficits of S/40,951.04 and interest returns of S/ 25,770.92 | – 66,721.96 |
| iv. Expenses paid in advance without documentary support for S/16,200.00 | – 16,200.00 |
| v. Lack of recognition of amortization of intangibles for S/19,073.40 | – 19,073.40 |
| vi. Operations in process more than 30 days old for S/195,502.72 | – 195,502.72 |
| Total settings | – 595,751.62 |
But the management and management bodies of Cooperativa Éxito they continued to underestimate the regulator and although they corrected the balance sheets, the SBS realized that these “they did not collect in their entirety” the instructed settings.
Then, after the insistence of the SBSthe entity showed that it not only lost its accounting assets due to S/518,597incurring insolvency, but also the autonomy to operate, marking the end of an era for its associates.
Insurmountable
As is natural, overconfidence in human beings, three partners they made a capital contribution by S/219,291 to rescue the cooperative, that is, 42.3% of the capital loss. In colloquial terms, They threw four lifebuoys despite the fact that there were 10 people who were in the middle of the sea.
Given this situation, after the deadline to prove the reversal of the capital loss has expired, the SBS subjected the entity to “intervention regime” and adopt the necessary actions in order to protect the interests of the members of the cooperative.
The future of partners
Given the impossibility of recovering the lost capital, the SBS activated a protocol that strips the directors of their power, giving the keys to the management of the cooperative to the auditors appointed by the regulated itself (Ingrid Vanessa Escobar Ramírez and Carlos Enrique Montesinos Cáceres).
They not only assume legal representation, but also have the technical mission to carry out a financial autopsy to determine the real assets that survive after the shipwreck. Their faculties are total: from deciding what topics the Assembly can touch on, to prosecuting those responsible for the imbalance.
The intervention regime also imposes, in addition, a state of total paralysis. It suspends commercial operations and nullifies the autonomy of the entity.
On the other hand, in order to prevent the remaining assets from being devoured by the desperation of creditors, the resolution of the SBS establishes a legal shield absolute.
From now on, the cooperative is protected by a “shield” that prohibits the initiation of new collection lawsuits, the execution of seizures or any precautionary measure on its assets.
The SBS seeks to ensure that the little that remains in the coffers is not diluted in individual lawsuitswhile the 45-day period runs that will define whether “Success” will have an opportunity for recovery or if failure will be the end point of this chronicle.
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