“On October 13, 2025, the IPAB will begin the payment of guaranteed obligations to savers of the bank,” he said.
People will receive the equivalent of 400,000 UDIS, which is 3.42 million pesos.
Last June, the government of US President Donald Trump blamed CiBanco, along with the Intercam bank and the Vector brokerage, for “laundering money” for drug cartels and prohibited them from “some fund transfers.”
At the end of August, CiBanco and Intercam sold part of their businesses to other financial institutions, according to the Mexican Ministry of Finance.
The IPAB indicated this Friday in a statement that it authorized the payment to people who have savings in the institution after the revocation of CIBanco’s license.
The Treasury Department maintained in June that financiers played a “vital role in laundering millions of dollars on behalf of Mexico-based cartels and facilitating payments for the acquisition of chemicals” needed to produce fentanyl.
Following these allegations, the Ministry of Finance announced the “temporary managerial intervention” of these institutions “in order to protect the interests” of their savers and creditors.
With information from AFP
