Office Letter Modifying the Terms of the Authorization for the Organization and Operation of Banco Covalto, S.A., Multiple Banking Institution — SHCP — MX

DOF: 26/10/2022

OFFICE LETTER whereby the terms of the authorization for the organization and operation of Banco Covalto, S.A., Multiple Banking Institution are modified.

In the margin a seal with the National Shield, stating: United Mexican States.- TREASURY.- Secretariat of Treasury 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 A.- Office Letter No.: 312-3/2511635/2022.- File: CNBV.3S.3.2, 312 (8074).

Subject:

The terms of the authorization for the organization and operation of that entity are modified.

BANCO COVALTO, S.A.,
MULTIPLE BANKING INSTITUTION
Avenue Ferrocarril de Cuernavaca, No. 689, Floor 9, Neighborhood Ampliación Granada, Miguel Hidalgo, Zip Code 11529, Mexico City.

ATTENTION:

ATTORNEY MARK MATTHEW MCCOY MACDONALD
General Director

With office letter 312-3/70327/2019 dated November 28, 2019, this Commission approved the reform to Clause Seven of the corporate bylaws of Banco Finterra, S.A., Multiple Banking Institution (Banco Finterra), now Banco Covalto, S.A., Multiple Banking Institution (Banco Covalto), due to the increase in its social capital from the amount of $918,109,300.00 to $948,109,300.00, which was agreed upon in an extraordinary general shareholders' meeting held on November 22, 2019.

Through office letter 312-3/0232/2020 dated August 20, 2020, this Commission approved the reform to Clause Seven of the corporate bylaws of Banco Finterra, now Banco Covalto, due to the increase in its social capital from the amount of $948,109,300.00 to $1,028,109,300.00, which was agreed upon in an extraordinary general shareholders' meeting held on August 14, 2020.

With office letter 312-3/10039090/2021 dated November 25, 2021, this Commission approved the reform to Clause Seven of the corporate bylaws of Banco Finterra, now Banco Covalto, due to the increase in its social capital from the amount of $1,028,109,300.00 to $1,188,109,300.00, which was agreed upon in an extraordinary general shareholders' meeting held on November 25, 2021.

Through office letter 312-3/10039182/2021 dated December 16, 2021, this Commission approved the reform to Clause Seven of the corporate bylaws of Banco Finterra, now Banco Covalto, due to the increase in its social capital from the amount of $1,188,109,300.00 to $1,288,109,300.00, which was agreed upon in an extraordinary general shareholders' meeting held on December 15, 2021.

With office letter 312-3/2511270/2022 dated March 31, 2022, this Commission approved the reform to Clause Seven of the corporate bylaws of Banco Covalto, due to the increase in its social capital from the amount of $1,288,109,300.00 to $1,328,109,300.00, which was agreed upon in an extraordinary general shareholders' meeting held on March 31, 2022.

With office letter 312-3/2511493/2022 dated June 29, 2022, this Commission approved the reform to Clause Seven of the corporate bylaws of Banco Covalto, due to the increase in its social capital from the amount of $1,328,109,300.00 to $1,478,109,300.00, which was agreed upon in an extraordinary general shareholders' meeting held on June 30, 2022.

Through writings submitted to this Commission on April 6, 2020 and March 8, May 24, 2022 and September 6, 2022, through the email VPSupervisionGIFA@cnbv.gob.mx, in compliance with the requirements contained in office letters 312-3/70327/2019, 312-3/0232/2020, 312-3/10039090/2021, 312-3/10039182/2021, 312-3/2511270/2022 and 312-3/2511493/2022 previously referred to, Banco Covalto submitted:

certified copy and first deed of public deeds 61,070 and 61,914 dated December 11, 2019 and September 11, 2020, granted before the faith of Attorney Francisco Javier Gerardo Oliveros Lara, public notary number 75 of Mexico City;

ii)

second deeds of public deeds 44,120 and 44,201 dated December 13, 2021 and January 13, 2022, granted before the faith of Attorney Alfonso Gómez Portugal Aguirre, notary number 162 of Mexico City;

iii)

second deed of public deed 49,878 dated April 7, 2022, granted before the faith of Attorney Luis Eduardo Paredes Sánchez, public notary number 180 of Mexico City; and

iv)

first deed of public deed 50,917 dated July 8, 2022, granted before the faith of Attorney Luis Eduardo Paredes Sánchez, public notary number 180 of Mexico City;

The aforementioned public deeds are registered in the Public Registry of Commerce of this same city on March 10, 2020 and January 13, March 22, April 13 and 19 and August 17, 2022, respectively, under electronic commercial folio number 303991-1, in which the statutory modifications in question were formalized.

Therefore, based on Article 8, last paragraph of the Credit Institutions Law, this Commission sees fit to modify Base Five of the "Authorization for the organization and operation of a multiple banking institution to be called Banco Finterra, S.A., Multiple Banking Institution", currently Banco Covalto, contained in office letter P026/2014 issued by this Commission on March 25, 2014 and published in the Official Gazette of the Federation on April 7, 2014, last modified through office letter 312-1/66218/2018 issued by this Commission on March 20, 2018 and published in said Gazette on April 6, 2018, to remain in the following terms:

"...

FIVE.- The amount of its paid-in social capital shall be $1,478,109,300.00 (one billion four hundred seventy-eight million one hundred nine thousand three hundred pesos 00/100) National Currency.

..."

Likewise, based on Articles 8, last paragraph and 97 of the Credit Institutions Law and 19 of the National Banking and Securities Commission Law, Banco Covalto is required to report to this authority the date of publication of the text of this modification office letter, made in the Official Gazette of the Federation and in two newspapers of wide circulation of its corporate domicile, within a period of fifteen business days counted from the date of publication. The foregoing, with the understanding that said publications must be processed within fifteen business days following the date of receipt of this office letter.

This office letter is issued based on Articles 16, antepenultimate paragraph of the National Banking and Securities Commission Law; and 14, 19, section X, 21, sections I, subsection c), II and III and last paragraph, 44, sections I and IV and 64 of the Internal Regulations of the National Banking and Securities Commission.

Sincerely,

Mexico City, October 5, 2022.- General Director of Authorizations to the Financial System, Attorney Aurora de la Paz Torres Arroyo.- Signature.- General Director of Supervision of Groups and Financial Intermediaries A, Actuary Mónica Palacios Rios.- Signature.

(R.- 528230)

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