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Reuters

Business

Bolivia takes control of Banco Fassil, executives arrested

Clients of Banco Fassil, one of Bolivia's largest banks, stand outside one of the bank's branches after Bolivia's government took control following the detention of several executives for alleged mismanagement, in Cochabamba, Bolivia, April 26, 2023. REUTERS/Patricia Pinto

Bolivia's government took control of one of the country's largest banks, Banco Fassil, a senior government financial official said on Wednesday, and police arrested several executives for alleged mismanagement.

"Mismanagement, unhealthy practices have caused a crisis," the executive director of Bolivia's Financial System Supervision Authority (ASFI), Reynaldo Yujra, told reporters in the city of Santa Cruz.

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