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Banco Fassil S.A.'s Overview

Total employees2637
HeadquartersSanta Cruz de la Sierra
Founded

Banco Fassil S.A. was a major Bolivian financial institution headquartered in Santa Cruz de la Sierra. Founded in 1996, it grew to become one of the largest banks in Bolivia, offering a range of banking products and services to individuals and businesses. However, in April 2023, the bank faced a severe liquidity crisis, leading to its intervention by the Bolivian Authority for the Supervision of the Financial System (ASFI) to protect depositors' interests. Subsequently, a process of compulsory liquidation was initiated. This page provides historical information and context regarding its operations prior to and during the intervention.

Where is Banco Fassil S.A.'s Headquarters?

HQ Function

Historically, the headquarters served as the central hub for all administrative, strategic, financial, and operational decisions of the bank. It housed key departments including executive management, corporate banking, risk management, and technology. Post-intervention, its function shifted to facilitating the intervention and liquidation process under ASFI's guidance.

Notable Features:

The 'Torre Fassil' was a modern, prominent multi-story office tower, symbolizing the bank's previous significant presence in the Bolivian financial landscape. It was one of the recognizable buildings in the city's business district.

Work Culture:

Prior to its intervention, Banco Fassil likely aimed to foster a competitive and customer-focused work environment typical of large financial institutions. The culture would have emphasized growth, market share, and financial performance. Post-intervention, the atmosphere would have shifted dramatically to crisis management, regulatory compliance, and employee uncertainty under ASFI's supervision.

HQ Significance:

The headquarters was highly significant as the nerve center of what was one of Bolivia's largest banks. It directed a nationwide network of branches, managed substantial financial assets, and played a key role in the national economy before its collapse and intervention.

Values Reflected in HQ: Prior to its financial troubles, the headquarters' modern architecture and prominent location likely aimed to reflect values such as financial strength, modernity, progress, and customer trust – common aspirations for major banking institutions.

Location:

Banco Fassil S.A. operated exclusively within Bolivia. It had established an extensive national presence with a wide network of branches, ATMs, and service points across all nine departments of the country. While it did not have physical international branches, it engaged in standard international banking transactions such as correspondent banking and trade finance to support its Bolivian clients' global business activities. Its focus was entirely on the domestic Bolivian market.

Street Address:

Torre Fassil, Avenida San Martín esquina Calle J, Equipetrol Norte

City:

Santa Cruz de la Sierra

State/Province:

Andrés Ibáñez Province (Santa Cruz Department)

Country:

Bolivia

Banco Fassil S.A.'s Global Presence

La Paz, Bolivia

Address: Multiple branches and offices. Example of a main office: Av. Camacho No. 1485, Edificio La Primera, La Paz (actual branch addresses varied).

To serve the substantial individual, commercial, and governmental client base in La Paz and surrounding areas, supporting local economic activities and payment systems.

Cochabamba, Bolivia

Address: Multiple branches and offices. Example of a main office: Av. Heroínas E-0345, Cochabamba (actual branch addresses varied).

To cater to the diverse financial needs of the Cochabamba department, a vital agricultural, industrial, and commercial zone in Bolivia.

El Alto, Bolivia

Address: Multiple branches. Example: Cruce Villa Adela, El Alto (actual branch addresses varied).

To ensure financial inclusion and service delivery to the dynamic urban population and commercial activities within El Alto.

Buying Intent Signals for Banco Fassil S.A.

Highperformr Signals uncover buying intent and give you clear insights to target the right accounts at the right time — helping your sales, marketing, and GTM teams close more deals, faster.

Notable news
Hiring actively
Corporate Finance
Corporate Finance
Corporate Finance
Corporate Finance
Corporate Finance
*Example signal, not calculated in real time

Executive Team of Banco Fassil S.A.

As of April 2025, Banco Fassil S.A.' leadership includes:

Ricardo Mertens Olmos - President of the Board of Directors (Presidente del Directorio)
Jorge Arturo Chávez Vargas - Executive Vice President of Business (Vicepresidente Ejecutivo de Negocios)
Hermes Hugo Saucedo - General Manager (Gerente General) - role reported during the period leading up to intervention
Paulo Roberto Antelo - Vice President of Finance (Vicepresidente de Finanzas)

Investors of Banco Fassil S.A.

Banco Fassil S.A. has been backed by several prominent investors over the years, including:

Prior to its intervention in April 2023, Banco Fassil S.A. was a privately-owned entity (Sociedad Anónima). Specific details of its major private shareholders were not consistently publicized. Key founding families and business groups were understood to be significant stakeholders. Post-intervention, the bank's assets and liabilities came under the control of the state-appointed intervenor from ASFI, with depositors' claims being prioritized in the liquidation process.

Executive New Hires/Exits in the Last 12 Months

Hire0
Exits5

The first half of 2023 was defined by the collapse and intervention of Banco Fassil S.A. This resulted in the complete removal of its executive board and senior management, many of whom subsequently faced legal investigations and arrests. The Bolivian financial regulatory body, ASFI, appointed an Intervenor to manage the bank's affairs. There were no 'hires' to the original company's executive team during this period; all changes involved removals and regulatory appointments to oversee the intervention and liquidation.

Departures

Ricardo Mertens Olmos, Removed from position following ASFI's intervention of Banco Fassil. Subsequently faced legal proceedings.
Jorge Arturo Chávez Vargas, Removed from position as part of the management overhaul during the ASFI intervention. Subsequently faced legal proceedings.
Hermes Hugo Saucedo, Removed from position during the intervention by ASFI. Subsequently faced legal proceedings.
Entire Board of Directors and Senior Management, The intervention by ASFI led to the dissolution or removal of the existing board and senior leadership team.

New Appointments:

Carlos Alberto Colodro López, Appointed by ASFI (Bolivian Financial Supervisory Authority) to manage Banco Fassil S.A. post-intervention. (Deceased May 2023).
Luis Gonzalo Araoz Leaño, Appointed by ASFI as Intervenor for Banco Fassil S.A., succeeding Carlos Colodro, to oversee the liquidation process.

Technology (Tech Stack) used by Banco Fassil S.A.

Discover the tools Banco Fassil S.A. uses. Highperformr reveals the technologies powering your target accounts — helping your sales, marketing, and GTM teams prioritize smarter and close faster.

Banco Fassil S.A. Email Formats and Examples

Prior to its intervention and subsequent liquidation in 2023, Banco Fassil S.A. likely utilized standard corporate email formats. However, due to the bank's cessation of operations, email addresses associated with the @fassil.com.bo domain are no longer active or monitored for general business communication.

Common formats likely included [first_initial][last_name]@fassil.com.bo (e.g., jdoe@fassil.com.bo) or [first_name].[last_name]@fassil.com.bo (e.g., juan.perez@fassil.com.bo). The exact internal convention could have varied.

Format

jperez@fassil.com.bo

Example

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Success rate

News and media

ASFI (Autoridad de Supervisión del Sistema Financiero)April 26, 2023

Banco Fassil S.A. News: ASFI Intervenes Banco Fassil S.A. and Appoints Intervenor to Protect Public Savings

Bolivia's financial regulatory authority, ASFI, officially intervened Banco Fassil S.A. due to severe liquidity problems and inability to meet depositor obligations. Mr. Carlos Alberto Colodro López was appointed as the intervenor to manage the bank and initiate processes to safeguard depositors' funds....more

Bolivian Ministry of Economy and Public Finance / El DeberMay 12, 2023

Banco Fassil S.A. News: Nine Banks Awarded Fassil's Portfolio and Deposits; Solution Process for Savers Begins

As part of the solution process directed by ASFI, portions of Banco Fassil's loan portfolio and deposits were transferred to nine other solvent Bolivian banks. This measure aimed to ensure depositors could access their funds through these other institutions....more

Various International and Bolivian News Outlets (e.g., Reuters, Associated Press, Página Siete)May 28, 2023

Banco Fassil S.A. News: Intervenor of Banco Fassil, Carlos Colodro, Found Dead

Carlos Alberto Colodro López, the ASFI-appointed intervenor for Banco Fassil, was found dead after an apparent fall from a building. His death occurred amidst the complex intervention process, prompting further investigations and the eventual appointment of a new intervenor....more

ASFI (Autoridad de Supervisión del Sistema Financiero)June 2, 2023

Banco Fassil S.A. News: ASFI Appoints New Intervenor for Banco Fassil S.A.

Following the death of Carlos Colodro, ASFI appointed Luis Gonzalo Araoz Leaño as the new intervenor for Banco Fassil S.A. to continue with the compulsory liquidation process and manage the remaining affairs of the failed bank....more

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