“This decision has been difficult but necessary, adopted with a deep sense of responsibility and with the fundamental purpose of protecting the interests of savers, employees, creditors, suppliers and the national financial system itself,” said CI Tenedora.
The company added that in the intervention and administration process, the bank’s shareholders and directors have cooperated with the authorities in Mexico by providing the required information; But given the situation of lack of liquidity it faced, it was decided to request the dissolution of the bank.
“The decision represents the most responsible way to guarantee an orderly conclusion of operations and the liquidation of the company in accordance with the Law,” he highlighted.
Since the issuance of the FinCEN order last June, 105 days have passed without the institution having received evidence from the American authorities and it highlighted that no evidence has been found to prove the commission of irregularities or illegal acts.
CI Banco had even filed a lawsuit against the Treasury Department and FinCEN as well as their representatives, but a few days later it chose to withdraw it.
Tenedora CI added that the effects derived from said order caused a material loss in the value of assets and a structural deterioration in operational capacity, which has made the bank’s continuity impossible.
“The shareholders and officials of CIBanco, led by Tenedora CI, reaffirm their commitment to continue collaborating in a transparent and constructive manner with the competent authorities, reaffirming their conviction that this decision, although difficult, represents the most responsible path to protect those who have trusted in CIBanco,” he stated.
