Resolution modifying the authorization granted to Grupo Financiero Ve por Más, S.A. de C.V. to organize as a Holding Company under the Law for the Regulation of Financial Groups

DOF: 10/18/2018

RESOLUTION modifying the authorization granted to "Grupo Financiero Ve por Más, S.A. de C.V." to organize as a Holding Company under the Law for the Regulation of Financial Groups and the constitution and functioning of the respective financial group.

At the margin, a seal with the National Coat of Arms, which reads: United Mexican States.- Ministry of Finance and Public Credit.- Undersecretariat of Finance and Public Credit.- Unit of Banking, Securities and Savings.- Office No. UBVA/105/2018.

Resolution modifying the authorization granted to "Grupo Financiero Ve por Más, S.A. de C.V." to organize as a Holding Company under the Law for the Regulation of Financial Groups and the constitution and functioning of the respective financial group.

The Ministry of Finance and Public Credit, through the Unit of Banking, Securities and Savings, based on the provisions of Articles 31, fraction XXXIV of the Organic Law of the Federal Public Administration and 11 of the Law for the Regulation of Financial Groups, in exercise of the powers conferred by Article 27, fraction XXXIII, of the Internal Regulations of this Ministry of Finance and Public Credit and in view of the following:

BACKGROUND

By Resolution 101-881 of December 14, 2005, published in the Official Gazette of the Federation on January 3, 2006, this Ministry authorized the constitution and functioning of "Grupo Financiero Ve por Más, S.A. de C.V.", in accordance with the provisions of Article 6 of the Law for the Regulation of Financial Groups, in force until January 10, 2014. The aforementioned authorization was last modified by office UBVA/096/2013 of November 1, 2013, published in the Official Gazette of the Federation on February 9, 2015.

By office UBVA/DGABV/295/2015 of April 15, 2015, this Ministry, through the Unit of Banking, Securities and Savings, based on Article 20 of the Law for the Regulation of Financial Groups, approved the comprehensive modification of the Bylaws of "Grupo Financiero Ve por Más, S.A. de C.V." in the terms agreed by its Extraordinary General Shareholders' Meeting held on July 4, 2014, notarized by public deed number 79,710 of March 19, 2015, granted before the notary of Lic. Luis Antonio Montes de Oca Mayagoitia, holder of Public Notary Office number 29 of the Federal District, now Mexico City, which was carried out in compliance with the Decree by which various provisions in financial matters are reformed, added to and repealed and the Law for the Regulation of Financial Groups is issued, published in the Official Gazette of the Federation on January 10, 2014.

By office UBVA/081/2016 of December 2, 2016, published in the Official Gazette of the Federation on December 26, 2016, this Ministry, through the Unit of Banking, Securities and Savings, based on Articles 15 in relation to 19, first and last paragraphs and 20 of the Law for the Regulation of Financial Groups, authorized the incorporation of "Seguros Multiva, S.A., Grupo Financiero Multiva" as a financial entity integrated into "Grupo Financiero Ve por Más, S.A. de C.V.", under the name of "Seguros Ve por Más, S.A., Grupo Financiero Ve por Más", in the terms agreed by the Extraordinary General Shareholders' Meeting of "Grupo Financiero Ve por Más, S.A. de C.V.", held on October 31, 2016, notarized by public deed number 82,351 of that same date, granted before the aforementioned Notary.

CONSIDERING

That the financial sector must contribute fundamentally to the financing of economic growth in Mexico.

That the National Development Plan 2013-2018 establishes as its general objective "To take Mexico to its maximum potential", contemplating as one of the five National Goals the so-called "Prosperous Mexico", which has among its objectives "Democratize access to financing for projects with growth potential." In achieving the stated objective, this Administration places emphasis on three Cross-cutting Strategies and their respective Lines of Action, within which is "Carry out the necessary reforms to the legal and regulatory framework of the financial system to democratize credit."

That on January 10, 2014, a new Law for the Regulation of Financial Groups was published in the Official Gazette of the Federation, in which the regulation applicable to financial groups is perfected, by precisely establishing the bases for the organization of Holding Companies and the constitution and functioning of Financial Groups.

That in accordance with Article Fifty-second, fraction IV, of the Decree by which various provisions in financial matters are reformed, added to and repealed and the Law for the Regulation of Financial Groups is issued, published in the Official Gazette of the Federation on January 10, 2014, Holding Companies and Financial Groups that, upon the entry into force of this Law, have authorization to constitute and function as such under the repealed Law for the Regulation of Financial Groups, shall be deemed authorized under Article 11 of the current Law for the Regulation of Financial Groups from January 11, 2014.

That inasmuch as this Ministry approved the comprehensive modification of the bylaws of "Grupo Financiero Ve por Más, S.A. de C.V.", which was carried out in compliance with Article Fifty-second, fraction III, of the Decree by which various provisions in financial matters are reformed, added to and repealed and the Law for the Regulation of Financial Groups is issued, published in the Official Gazette of the Federation on January 10, 2014, as well as to contemplate the incorporation of "Seguros Multiva, S.A., Grupo Financiero Multiva" as a financial entity integrated into "Grupo Financiero Ve por Más, S.A. de C.V.", under the name of "Seguros Ve por Más, S.A., Grupo Financiero Ve por Más", it is necessary to modify the authorization granted to "Grupo Financiero Ve por Más, S.A. de C.V." to organize as a Holding Company and the constitution and functioning of the respective financial group.

That in accordance with the "Decree by which various provisions of the Political Constitution of the United Mexican States are declared reformed and repealed in matters of the political reform of Mexico City", published in the Official Gazette of the Federation on January 29, 2016, the "Federal District" shall be called "Mexico City" and is elevated to the rank of a federal entity.

That once the information and documentation presented has been analyzed, as well as after having determined the appropriateness of the present modification, this Ministry of Finance and Public Credit issues the following:

RESOLUTION

SOLE.- The authorization granted to "Grupo Financiero Ve por Más, S.A. de C.V." to organize as a Holding Company under the Law for the Regulation of Financial Groups and the constitution and functioning of the respective financial group is comprehensively modified, to remain in the following terms:

FIRST:

In exercise of the power conferred by Article 11 of the Law for the Regulation of Financial Groups, this Ministry authorizes the organization of "Grupo Financiero Ve por Más, S.A. de C.V." as a Holding Company and the constitution and functioning of the respective financial group.

SECOND:

The name of the Holding Company of the financial group shall be "Grupo Financiero Ve por Más, S.A. de C.V.".

THIRD:

The Holding Company shall have as its object to participate, directly or indirectly, in the social capital of the financial entities integrated into the financial group and to establish, through its corporate bodies, the general strategies for the management of the financial group.

FOURTH:

"Grupo Financiero Ve por Más, S.A. de C.V." shall be the direct or indirect owner of shares representing more than fifty percent of the social capital of the financial entities integrated into the financial group.

FIFTH:

The financial group shall be integrated by the Holding Company named "Grupo Financiero Ve por Más, S.A. de C.V.", and by the following financial entities:

Banco Ve por Más, S.A., Multiple Banking Institution, Grupo Financiero Ve por Más;

Arrendadora Ve por Más, S.A. de C.V., Multiple Purpose Financial Society, Regulated Entity, Grupo Financiero Ve por Más;

Operadora de Fondos de Inversión Ve por Más, S.A. de C.V., Operating Society of Investment Societies, Grupo Financiero Ve por Más;

Casa de Bolsa Ve por Más, S.A. de C.V., Grupo Financiero Ve por Más, and

Seguros Ve por Más, S.A., Grupo Financiero Ve por Más.

SIXTH:

The domicile of the Holding Company shall be Mexico City.

SEVENTH:

The authorization referred to in this Resolution is, by its very nature, intransmissible.

EIGHTH:

The Holding Company shall be subject to inspection and supervision by the National Banking and Securities Commission.

NINTH:

In matters not expressly provided for in this Resolution, "Grupo Financiero Ve por Más, S.A. de C.V." shall be subject to the Political Constitution of the United Mexican States, to the Law for the Regulation of Financial Groups, to the General Rules of Financial Groups, as well as to all other legislation and regulation currently in force applicable to the matter, or that may be issued in the future.

TRANSITIONAL

SOLE.-

This Resolution shall be published in the Official Gazette of the Federation at the expense of "Grupo Financiero Ve por Más, S.A. de C.V."

Respectfully,

Mexico City, September 11, 2018.-

The Head of the Unit, Emilio Fueyo Saldaña.- Signature.

(R.- 474261)

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