Banco Fassil

Founded in 1996 as a Private Financial Fund, Banco Fassil S.A. became a full-service "Multiple Bank" in 2014, headquartered in Santa Cruz de la Sierra, Bolivia. The bank experienced rapid growth, becoming one of Bolivia's largest financial institutions, focusing on services for individuals, small and medium-sized enterprises (SMEs), and corporations. However, in April 2023, the bank faced a severe liquidity crisis, leading to its intervention and subsequent closure by Bolivia's financial regulatory body, ASFI, amid allegations of mismanagement and illicit financial activities. Its viable assets and liabilities were transferred to other banks to protect depositors.