Two days later, the bank withdrew that demand, showing that it would not have support in the country, although it did allow the institution to gain time to sell some assets, according to Gabriel Reyes Orona, former member of Banxico and the National Banking and Securities Commission (CNBV).
In that same order, it was announced that Multiva had won the competition to purchase the CI Banco trusts, which had more than 3 billion pesos in these instruments.
“They were not going to win the lawsuit for a very simple reason: an investigation was not initiated and there is no judicial power to support this either here or in another country,” said Reyes Orona. “They wanted time to sell the bank’s most relevant assets.”
Although the Fitch Ratings agency considers that this will not imply an impact or contagion for other players in the Mexican financial system, analysts point out that it would be regrettable if there were people affected by having more than 3.42 million pesos.
“What we see around the banking system is that the risks are macroeconomic and the current uncertainty derives from the tariff issue and the slowdown of the Mexican economy,” said Alejandro Tapia, senior director of financial institutions at Fitch Ratings. “The risks of contagion (from washing) were lower.”
Last week, CI Banco shareholders decided to ask the authority to revoke its license in a decision they described as “difficult, but necessary.”
Tapia added that as a rating agency they will maintain their attention on processes related to money laundering and terrorist financing.
“We believe that it is going to be a latent risk and we must monitor it,” he said.
The size of CI Bank
With data from the CNBV as of August, CI Banco was the 26th largest bank by number of assets in the financial system, with 68,658 million pesos, 51.7% less than what was registered at the end of 2024.
CI Banco’s credit portfolio, after having sold the automotive company to BanCoppel, was adjusted downward by 54%, leaving it with 6,941 million pesos.
One of CI Banco’s complaints was that the Treasury Department’s allegations caused “a material loss in the value of assets and a structural deterioration in the operational capacity” of the institution.
The bank’s profits saw an increase in June, after the accusations, but in August they plummeted by 255%, losing 533 million pesos.
“This has made it impossible for the bank to continue as a going concern under sustainable conditions,” he said.
Customer deposits were decreasing after the accusations last June. With figures as of August, CI Banco had 11,931 million pesos in traditional deposits and 6,547 million in time deposits.
IPAB liquidation
Now, starting this Monday, October 13, the IPAB has the mission of returning savers their money for up to 400,000 UDIs. Until the closing of this edition, it was not known if there were people who exceeded that amount.
“Having entered a liquidation period, the IPAB must be responsible for paying the guaranteed obligations to depositors according to the amount established by law,” said Tapia.
