Notice of Closure of Banco de Sabadell, S.A. Representation Office in Mexico and Revocation of Authorization

DOF: 26/05/2016

OFFICE LETTER through which the closure of the Representation Office in Mexico of Banco de Sabadell, S.A., Sabadell, Spain, and the revocation of the authorization for its establishment is made known.

At the margin a seal with the National Coat of Arms, which says: United Mexican States.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.- Presidency.- Vice Presidency of Normativity.- Vice Presidency of Supervision of Groups and Financial Intermediaries B.- Office No.: 310-111555/2016.-

Exp.: CNBV.312.211.23 (1013).

Subject:

Closure of your Representation Office in

Mexico, as well as revocation of the authorization

for its establishment.

BANCO DE SABADELL, S.A.

Miguel de Cervantes Saavedra No. 193, Floor 15

Granada Neighborhood

Miguel Hidalgo District

11520 Mexico City

TO:

MR. ENRIQUE GARCÍA MENES

Representative

We refer to your writing submitted on February 26 of the current year, through which you notified this Commission of the definitive closure of the representation office in national territory of that entity and, consequently, requested the revocation of the corresponding authorization.

BACKGROUND

1.

With office 102-E-367-DGBM-II-B-c-725 dated April 24, 1991, the Ministry of Finance and Public Credit authorized Banco de Sabadell, S.A. (Banco de Sabadell) to establish a Representation Office in national territory under the name of Banco de Sabadell, S.A., Sabadell, Spain, Representation in Mexico.

2.

In a meeting of the Board of Directors of Banco de Sabadell, held on January 18, 2016, it was unanimously agreed to definitively close its representation office in Mexico.

Attending to the background stated above and considering that the request and documentation presented comply with the applicable provisions, this Commission, based on what is established in the Fifteenth, fraction VI of the Rules for representation offices of foreign financial entities, published in the Official Gazette of the Federation on December 31, 2014, has resolved to authorize the closure of the Representation Office in Mexico of Banco de Sabadell.

As a consequence of the above and based on the Rule previously invoked, the members of the Board of Governors of this Commission, in a session held on April 29 of the current year, adopted the following:

AGREEMENT

" SEVENTEENTH.- The members of the Board of Governors, based on article 12 fraction XV of the Law of the National Banking and Securities Commission, in relation to article 7, penultimate paragraph of the Law of Credit Institutions and the Fifteenth, fraction VI of the Rules for representation offices of foreign financial entities, taking into consideration the favorable opinion issued by the Committee of Authorizations of the National Banking and Securities Commission in its session held on April 25, 2016, were informed of the closure of the Representation Office in Mexico of Banco de Sabadell, S.A., Sabadell, Spain, Representation in Mexico and, as a consequence thereof, unanimously approved the revocation of the authorization for its establishment, granted by the Ministry of Finance and Public Credit through office 102-E-367-DGBM-II-B-c-725 dated April 24, 1991. "

This office letter is issued based on articles 12, 13, 15, fraction VIII, 17, fraction XIV, 19, fractions I, subsection f), II and III and last paragraph and 40, fractions I and VII of the Internal Regulations of the National Banking and Securities Commission, published in the Official Gazette of the Federation on November 12, 2014 and 1, fraction VI, 7, fraction VI, 11, fraction I, subsections 1) and 3) and 36, fraction I, subsection 1) of the Agreement by which the President of the National Banking and Securities Commission delegates powers to the Vice Presidents, General Directors and Assistant General Directors of the same Commission, published in the said Gazette on November 30, 2015.

Respectfully

Mexico City, May 6, 2016. - The Vice President of Normativity, Arcelia Olea Leyva. - Signature.- The Vice President of Supervision of Groups and Financial Intermediaries B, Ricardo Medina Álvarez. - Signature.

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