Notice to Bank Leumi Le-Israel, B.M. and Bank Leumi (Luxembourg), S.A. of the Closure of their Joint Representation Office in Mexico and Revocation of Authorization

DOF: 02/06/2016

OFFICE LETTER notifying Bank Leumi Le-Israel, B.M. and Bank Leumi (Luxembourg), S.A. of the closure of the Joint Representation Office in Mexico, as well as the revocation of the authorization for its establishment.

At the margin, a seal with the National Coat of Arms, which reads: United Mexican States.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.- Vice Presidency of Normativity.- Vice Presidency of Supervision of Groups and Financial Intermediaries B.- Office No. 310-111556/2016.- Exp. CNBV. 312.211.23 (7301).

Subject: Closure of your Joint Representation Office in Mexico, as well as revocation of the authorization for its establishment.

Bank Leumi Le-Israel, B.M. and Bank Leumi (Luxembourg), S.A.
Joint Representation Office in Mexico
Río Guadalquivir No. 94
Col. Cuauhtémoc
06500 Mexico City

Attention:
Mr. Fabiano Trejger
Representative

We refer to the letters dated January 8 and March 28 of the current year, through which you requested that this Commission be notified of the definitive closure of said joint representation office, in compliance with what is established in fraction VI of the Fifteenth Rule of offices of representation of foreign financial entities.

BACKGROUND

1. Through office letter 356-I-BE-6733 dated July 15, 1980, the Ministry of Finance and Public Credit authorized Bank Leumi Le-Israel, B.M. to establish an Representation Office in Mexico.

2. Through office letter 312-1/49262/2012 dated July 20, 2012, the National Banking and Securities Commission authorized Bank Leumi Le-Israel, B.M. (Leumi Israel) and Bank Leumi (Luxembourg), S.A. (Leumi Luxembourg) to establish a Joint Representation Office in Mexico and, as a consequence, rendered ineffective the authorization for the establishment of the Representation Office of Leumi Israel contained in the aforementioned office letter 356-I-BE-6733.

3. Through minutes 16910/15 dated December 7, 2015, granted before the notary public Licentiate David Sinai Adv., at 7 Bavli St., Tel-Aviv, Israel, the resolution adopted unanimously by the Board of Directors of Leumi Israel for the closure of the Joint Representation Office existing in Mexico of Leumi Israel that it holds jointly with Leumi Luxembourg, effective February 29, 2016, was notarized.

4. With "Extract of the Minutes of the Board of Directors dated December 15, 2015 regarding the closure of the Joint Representation Office in Mexico", duly certified by the public notary Licentiate Henry Hellinicks residing in Luxembourg on December 21, 2015, the Board of Directors of Leumi Luxembourg resolved unanimously to close the Joint Representation Office existing in Mexico of Leumi Luxembourg that it holds jointly with Leumi Israel, effective February 29, 2016.

Considering the background stated above and considering that the request and documentation presented comply with the provisions applicable to the case, this Commission, based on the provisions of the Fifteenth, fraction VI of the Rules of offices of representation of foreign financial entities, published in the Official Gazette of the Federation on December 31, 2014, has resolved to authorize the closure of the Joint Representation Office in Mexico of Leumi Israel and Leumi Luxembourg.

As a consequence of the foregoing and based on the aforementioned Rule, the members of the Board of Directors of this Commission, in a session held on April 29 of the current year, adopted the following:

AGREEMENT

"EIGHTEENTH.- The members of the Board of Directors, based on Article 12, fraction XV of the Law of the National Banking and Securities Commission, in relation to Article 7, second-to-last paragraph of the Credit Institutions Law and with the Fifteenth, fraction VI of the Rules of offices of representation of foreign financial entities, taking into consideration the favorable opinion issued by the Authorization Committee of the National Banking and Securities Commission in its session held on April 25, 2016, were informed of the closure of the Joint Representation Office in Mexico of Bank Leumi Le-Israel, B.M. and Bank Leumi (Luxembourg), S.A. and, as a consequence thereof, unanimously approved the revocation of the authorization for its establishment, granted by this Commission through office letter 312-1/49262/2012 dated July 20, 2012. "

This office letter is issued based on Articles 12, 13 and 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; 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 said Commission, published in the said Gazette on November 30, 2015.

Respectfully,

Mexico City, May 9, 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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