Official Letter Modifying the Authorization Terms for Scotiabank Inverlat, S.A., Multiple Banking Institution, Scotiabank Inverlat Financial Group

DOF: 30/11/2022

OFFICIAL LETTER modifying the terms of the authorization for the organization and operation of Scotiabank Inverlat, S.A.

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 Financial Groups and Intermediaries B.- General Directorate of Supervision of Financial Groups and Intermediaries D.- Official Letter No. 312-3/2511797/2022.- Exp. CNBV.3S.3.2, 312 (72).

Subject:

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

SCOTIABANK INVERLAT, S.A.
MULTIPLE BANKING INSTITUTION,
SCOTIABANK INVERLAT FINANCIAL GROUP

Boulevard Manuel Ávila Camacho No. 1, floor 19, Col. Lomas de Chapultepec I Section, Miguel Hidalgo, C.P. 11009, Mexico City.

TO:

LIC. ADRIÁN OTERO ROSILES
General Director

With Official Letter 312-3/2511405/2022 dated May 26, 2022, this Commission approved the reform to the bylaws of Scotiabank Inverlat, S.A., Multiple Banking Institution, Scotiabank Inverlat Financial Group (Scotiabank), due to the increase in its social capital from the amount of $9,207,023,304.00 to $9,420,300,433.00, as a consequence of its merger, as the merging entity with the resulting entity from the spin-off of Scotia Inverlat Brokerage House, S.A. de C.V., Scotiabank Inverlat Financial Group and Crédito Familiar, S.A. de C.V., SOFOM, E.R., Scotiabank Inverlat Financial Group, as the merged entities, which was agreed upon in an extraordinary general shareholders' meeting held on June 30, 2022.

Through a document submitted to this Commission on July 8, 2022, via the email VPSupervisionGIFB@cnbv.gob.mx, and in compliance with the requirement contained in the aforementioned Official Letter 312-3/2511405/2022, Scotiabank sent a certified copy of public deed 70,958 dated June 30, 2022, granted before the notary public Lic. Héctor Manuel Cárdenas Villarreal, notary public number 201 of Mexico City and registered in the Public Registry of Property and Commerce of this same city, on June 30, 2022, under electronic commercial folio number 198867-1, in which the statutory modifications in question were formalized.

For the above reason, based on Article 8, last paragraph of the Credit Institutions Law, this Commission deems it appropriate to modify point Third of the "Resolution authorizing the organization and operation of a multiple banking institution subsidiary to be named Scotiabank Inverlat, S.A., Multiple Banking Institution, Scotiabank Inverlat Financial Group" contained in Official Letter 101.-00704 dated May 30, 2003, issued by the Ministry of Finance and Public Credit, published in the Official Gazette of the Federation on July 3, 2003, last modified by Official Letter 312-3/2511294/2019 dated April 19, 2022 and published in said Gazette on May 12, 2022, to read as follows:

" ...

THIRD. - The social capital of Scotiabank Inverlat, S.A., Multiple Banking Institution, Scotiabank Inverlat Financial Group amounts to $9,420,300,433.00 (nine billion four hundred twenty million three hundred thousand four hundred thirty-three pesos 00/100 M.N.).

... "

Likewise, based on Articles 8, last paragraph and 97 of the Credit Institutions Law and 19 of the National Banking and Securities Commission Law, Scotiabank is required to inform this authority of the date of publication of the text of this official letter of modification in the Official Gazette of the Federation and in two widely circulated newspapers at its registered office, within a period of fifteen business days counted from the date of publication. This is understood to mean that said publications must be processed within the fifteen business days following the date of receipt of this official letter.

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

Respectfully,

Mexico City, November 7, 2022.- 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 D, C.P. José Antonio Baca Medina.- Signature.

(R.- 529704)

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