MEXICO CITY.- Kapital Bank will acquire a “significant part” of Intercam’s operations, which includes intercam bank assets and entities that integrate it, Hacienda reported.
He added that the Cibanco fiduciary business was transferred to Banco Multiva, information that was given earlier by this last financial group.
He affirmed that with the operation on Cibanco, the continuity of the contracts and the protection of the trusts and their beneficiaries are ensured.
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“Both operations ensure the continuity of financial services and the protection of the rights of savers, in strict adherence to the Law of Credit Institutions and their applicable provisions,” said Hacienda without giving details of the amounts of the operations.
He pointed out that the acquisitions are subject to the authorization of the corresponding authorities, so he will report the progress in the processes.
He stressed that financial institutions expressed interest in participating in the process.
“The financial authorities will continue to supervise the process to guarantee an orderly and transparent transition,” he said.
Lee: Cibanco demands the treasure; warns risk of disappearing
On June 25, the Department of the Treasury pointed to Cibanco, Intercam and Vector Casa de Bolsa de Alleged money laundering in favor of drug trafficking, so it will prohibit US financial institutions to make transactions that involve any of the three institutions.
A day after the announcement, the three groups were intervened by the National Banking and Securities Commission to protect the financial system from a possible impact.
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