Official Letter Modifying Authorization Terms for BBVA Mexico, S.A., Multiple Banking Institution, BBVA Mexico Financial Group

DOF: 11/18/2021

OFFICIAL LETTER modifying the terms of the authorization for the organization and operation of BBVA Mexico, S.A., Multiple Banking Institution, BBVA Mexico Financial Group (formerly BBVA Bancomer, S.A., Multiple Banking Institution, BBVA Bancomer Financial Group).

At the margin, a seal with the National Coat of Arms, which reads: United Mexican States.- TREASURY.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.- Vice Presidency of Regulation.- 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.-

Official Letter No.: 312-1/10038952/2021.- File: CNBV. 3S.3.2,312 (75)

Subject:

The terms of the authorization

for the organization and operation of said

credit institution are modified.

BBVA MÉXICO, S.A.,

MULTIPLE BANKING INSTITUTION,

BBVA MÉXICO FINANCIAL GROUP

(FORMERLY BBVA BANCOMER, S.A.,

MULTIPLE BANKING INSTITUTION,

BBVA BANCOMER FINANCIAL GROUP)

Av. Paseo de la Reforma 510,

Juárez Neighborhood, Cuauhtémoc Municipality,

Postal Code 06600, Mexico City.

TO:

ENG. EDUARDO OSUNA OSUNA

General Director

By Official Letter No.: 312-1/254/2020 dated September 4, 2020, this Commission approved the reform to articles first, ninth, and forty-first of the bylaws of BBVA Bancomer, S.A., Multiple Banking Institution, BBVA Bancomer Financial Group (BBVA México) due to the change of its corporate name to "BBVA México, S.A., Multiple Banking Institution, BBVA México Financial Group".

Regarding this matter, in compliance with the requirement contained in the aforementioned official letter, BBVA México presented to this Commission on September 21, 2021, through the email address VPSupervisionGIFA@cnbv.gob.mx, a certified copy of public deed number 129,253 dated August 12, 2021, granted before the notary public Lic. Carlos de Pablo Serna, Public Notary Number 137 of Mexico City, and registered in the Public Registry of Property and Commerce of this same city under electronic commercial folio 64010-1, on September 20, 2021, in which the modification in question was formalized.

Therefore, this Commission, based on the last paragraph of Article 8 and the last paragraph of Article 45-C of the Credit Institutions Law, has resolved to modify and update points First, Third, Fourth, Sixth, and Seventh of the "Resolution authorizing the organization and operation of a Subsidiary Multiple Banking Institution to be named BBVA Bancomer, S.A., Multiple Banking Institution, BBVA Bancomer Financial Group" contained in official letter 101.- 00701 issued by the Ministry of Finance and Public Credit on May 30, 2003, and published in the Official Gazette of the Federation on July 11, 2003, last modified by the Ministry of Finance and Public Credit through Resolution UBA/011/2005 dated January 4, 2005, and published in the aforementioned Gazette on March 23, 2005, to read as follows:

"...

FIRST.- In exercise of the power conferred by Article 45-C of the Credit Institutions Law, this Ministry authorizes the organization and operation of a subsidiary multiple banking institution to be named BBVA México, S.A., Multiple Banking Institution, BBVA México Financial Group.

...

THIRD.- The social capital of BBVA México, S.A., Multiple Banking Institution, BBVA México Financial Group shall be $5,000 ' 000,000.24 (five billion pesos 24/100 national currency).

FOURTH.- The domicile of BBVA México, S.A., Multiple Banking Institution, BBVA México Financial Group shall be Mexico City, Federal District.

...

SIXTH.- BBVA México Financial Group, S.A. de C.V. shall own at all times shares representing at least fifty-one percent of the social capital of BBVA México, S.A., Multiple Banking Institution, BBVA México Financial Group.

SEVENTH.- In matters not expressly stated in this Resolution, BBVA México, S.A., Multiple Banking Institution, BBVA México Financial Group shall adjust its organization and operation to the Political Constitution of the United Mexican States, to international treaties or agreements, to the Credit Institutions Law, to the Rules for the Establishment of Subsidiaries of Foreign Financial Institutions, to the general rules and provisions applicable to credit institutions issued by the National Banking and Securities Commission, to the provisions regarding its operations issued by the Bank of Mexico, and to any others applicable by their nature.

..."

Finally, based on the last paragraph of Articles 8 and 45-C, and Article 97 of the Credit Institutions Law and Article 19 of the National Banking and Securities Commission Law, BBVA México is required to inform this Commission of the dates of publication of this official letter, carried out in the Official Gazette of the Federation and in two widely circulated newspapers in its corporate domicile, within a period of ten business days counted from the date of said publications, which must be processed within fifteen business days following the date of receipt of this official letter.

This official letter is issued based on Articles 16, the penultimate paragraph of the National Banking and Securities Commission Law; 12, 17, fraction X, 19, fractions I, subsection c), II, III, and the last paragraph, 40, fractions I and IV, and 58, first paragraph of the Internal Regulations of the National Banking and Securities Commission.

Respectfully,

Mexico City, October 28, 2021.- 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.- 513764)

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