Regulatory Alerts2022-10-10 | DOF 5667637Added · Updated
Official Letter Granting Authorization for the Organization and Operation of Banco Bineo, S.A., Multiple Banking Institution, Banorte Financial Group
The National Banking and Securities Commission authorizes Grupo Financiero Banorte and Ixe Servicios to organize and operate Banco Bineo, S.A., a multiple banking institution, by transforming Ixe Servicios. The authorization is conditional upon the institution achieving a paid-up share capital of at least $1,675,000,000.00 MXN prior to commencing operations, obtaining operational authorization from the Commission, and securing approval from the Ministry of Finance for its inclusion in the Banorte Financial Group. The applicant must submit the public instrument adopting the multiple banking regime and approving the bylaws within ninety days of notification.