The Treasury reported that thanks to the coordinated work of the Mexican financial authorities with members of the national banking sector, agreements were reached for Intercam Banco, SA, Multiple Banking Institution, Intercam Grupo Financiero SA de CV (Intercam Banco) and Cibanco, SA, Multiple Banking Institution (Cibanco), in the context of temporary interventions initiated on June 26 by the National Banking Commission and Securities.
The SHCP stressed that various financial system institutions expressed interest in participating in the process, under schemes aimed at maximizing the value of operations and safeguarding the stability and continuity of the Mexican financial system as a whole, reflecting the strength of the national banking system.
“The financial authorities will continue to supervise the process to guarantee an orderly and transparent transition, and thank the confidence of the savers and the general public. The operations are subject to authorization by the authorities, so it will continue to be reported on the progress in the process,” he said in a statement.
