Authorization for Unicaja Banco, S.A. to Establish a Representation Office in Mexico

DOF: 03/09/2024

OFFICE DOCUMENT authorizing Unicaja Banco, S.A. to establish a Representation Office in Mexico.

At the margin, a seal with the National Coat of Arms, which reads: United Mexican States.- FINANCE.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.- Vice Presidency of Normativity.- General Directorate of Authorizations to the Financial System.- Vice Presidency of Supervision of Groups and Financial Intermediaries A.- General Directorate of Supervision of Groups and Financial Intermediaries B.-

Office No.: 312-3/42545/2024.- File: CNBV.3S.1.312 (7302).- File: CNBV.3S.1.312 (16544).

Subject:

Authorization is granted to that entity for the establishment of a representation office in Mexico.

UNICAJA BANCO, S.A.

Campos Elíseos No. 345, Omega Bldg., 5th Floor, Col. Polanco V Section, Alc. Miguel Hidalgo, C.P. 11560, Mexico City.

TO:

MR. MATÍAS MARTÍNEZ PÉREZ
Legal Representative.

We refer to the writings presented to this Commission on August 9 and November 15, 2023, and January 8, April 19 and 22, and May 7, 2024, through the email address VPSupervisionGIFA@cnbv.gob.mx, through which, on behalf and in the name of Unicaja Banco, S.A. (Unicaja), it requested: i) a new authorization for the establishment of a Representation Office in Mexico for Unicaja Banco, S.A., stating that it be permitted to continue with the activities carried out by the representation office of Liberbank, S.A. and ii) the revocation of the authorization granted to Liberbank, S.A. for the establishment in Mexico of a representation office, all of the foregoing, resulting from the merger of Liberbank, S.A. as the merged company with Unicaja.

Regarding this matter, the Board of Directors of this Commission, in a session held on July 31, 2024, based on Article 7 of the Institution Law and the Seventh, fraction I, in relation to the Fourth and Fifth of the Rules for representation offices of foreign financial entities (the Rules), published in the Official Gazette of the Federation on December 31, 2014, and taking into consideration the analysis of the documentation and information presented, adopted the following Agreement:

"FOURTH.- The members of the Board of Directors of the National Banking and Securities Commission, based on Article 12, fraction XV of the National Banking and Securities Commission Law, in relation to Article 7 of the Credit Institutions Law and the Seventh, fraction I, in relation to the Fourth and Fifth of the Rules for representation offices of foreign financial entities, unanimously agreed to authorize the establishment in national territory of a representation office of Unicaja Banco, S.A."

The authorization has been granted taking into account the following:

BACKGROUND

Unicaja is a credit entity constituted and organized under Spanish laws and is subject to the regulations and regulations of banking entities operating in Spain.

Through a legal opinion issued by the Uría Menéndez law firm, it was confirmed that Spanish legislation in no case provides for the need for prior authorization from the competent authority to establish representation offices in foreign territory.

Mr. Javier Basarte Albertos, in his capacity as Director of the Management and Documentation Area of Unicaja, stated that in the meeting held on September 21, 2022, the Management Committee of Unicaja agreed, among other acts: (i) to establish a representation office in Mexico; and (ii) to appoint Mr. Matías Martínez Pérez as the person in charge thereof.

The representation office of Unicaja shall be governed by the following bases:

BASES

FIRST.-

It must comply in all respects with its operation with what is provided in Article 7 of the Credit Institutions Law and in the Rules for representation offices of foreign financial entities and, in particular, with the following:

It shall bear at all times the name Unicaja Banco, S.A., followed by the expression "Representation Office in Mexico".

II.

It shall have its domicile in Mexico City.

SECOND.-

The representation office shall be subject to the inspection and supervision of the National Banking and Securities Commission.

THIRD.-

By its very legal nature, this authorization is non-transferable.

This office document shall be published in the Official Gazette of the Federation, at the expense of the promoting entity, in accordance with what is provided in the Fourth, second paragraph of the Rules.

Unicaja to start its activities will have a period of six months counted from the date on which the notification of this office document takes effect, in terms of what is provided in the Fourth, third paragraph of the Rules.

The start of operations of the representation office in question is subject to the report that Unicaja must present to this Commission and other competent financial authorities, with an advance of at least fifteen calendar days to the date scheduled for it, in terms of the Eleventh, fraction II of the Rules.

Additionally, this Commission does not omit to point out that the loss by the representative in charge of the representation office of Unicaja of any of the characteristics established in the Eighth of the Rules, including being in any of the circumstances preventing them from serving as a representative, as well as the declaration of false data, will be grounds for revocation to act as a representative of the representation office in question, in accordance with what is established in the Eighth, penultimate paragraph of the Rules.

Finally, this Commission will resolve separately what is related to the revocation of the authorization granted by this Commission, through office document number 312-3/49328/2012 dated September 18, 2012, for the establishment in national territory of Liberbank, S.A., Representation Office in Mexico.

This office document is issued based on Articles 16, antepenultimate and penultimate paragraphs of the National Banking and Securities Commission Law; and 9, 14, 20, fraction V, 21, fractions I, subsection f), II and III and last paragraph, 44, fractions I and IV and 64 of the Internal Regulations of the National Banking and Securities Commission.

Respectfully,

Mexico City, August 7, 2024.- General Director of Authorizations to the Financial System,
Lic. Aurora de la Paz Torres Arroyo.- Signature.- General Director of Supervision of Groups and Financial Intermediaries B, C.P. Ciro Antonio Cerecedo Batista.- Signature.

(R.- 556569)

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