Conassif Asks Coopemex
Clients To Pay Debt; Depositors Cannot Touch
Savings
Clients of Coopemex are asked to pay on
their outstanding loans, but are not allowed
to touch their savings, according to the
Consejo Nacional de Supervisión del Sistema
Financiero (Conassif).
Alberto Dent, head of the Conassif, is
asking Coopemex clients to keep their debts
up-to-date, as the temporary managers of the
financial institution will continue to
collect on debt.
Dent added that before depositors are
allowed to withdraw funds, the real
financial position of Coopemex has to first
be ascertained.
Coopemex is under Conassif intervention and
management for the coming months, after the
government regulator found irregularities
with the Coopemex's credit portfolio.
Although the Conassif does not rule out the
return to health of the Coopemex, history of
intervention by government regulators have
most always ended up in the winding down of
the financial institution and depositors
coming up short.
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