CIBanco, Intercam sell off assets as US extends bank sanction deadline

Major changes are successful the works for CIBanco and Intercam, 2 Mexican banks that the U.S. authorities has accused of laundering millions of dollars for cause cartels.

CIBanco has sold its fiduciary (trust) part to Multiva, portion Intercam is to beryllium acquired by Kapital Bank. Multiva is simply a Mexican fiscal institution, portion Kapital Bank is incorporated successful the United States but headquartered successful Mexico City.

Multiva volition instrumentality implicit the fiduciary part of CIBanco, which manages trusts. (Via El Economista)

Mexico’s Finance Ministry (SHCP) announced the merchantability agreements successful a connection issued connected Tuesday.

“Thanks to the coordinated enactment of Mexican fiscal authorities with members of the nationalist banking sector, agreements person been reached for CIBanco … and Intercam … successful the discourse of the impermanent interventions initiated connected June 26 by the National Banking and Securities Commission,” the SHCP said.

The ministry said that “after a process of valuation of antithetic options,” it was decided to “transfer” CIBanco’s fiduciary part to Banco Multiva.

“With this cognition the continuity of existing contracts and the afloat extortion of trusts and their beneficiaries is guaranteed,” the SHCP said.

The ministry said that Kapital Bank “will get a important portion of the operations of Intercam,” including Intercam shares and “various entities” of the bank.

“This process volition let continued work to beryllium provided to [Intercam’s] customers and savers,” the SHCP said.

The ministry said that the “operations” involving the sell-off of CIBanco and Intercam assets “guarantee the continuity of fiscal services and the extortion of the rights of savers successful strict accordance with the Credit Institutions Law and its applicable provisions.”

CIBanco: ‘Our nonsubjective has been to support the interests of our customers’

CIBanco released its ain statement, successful which it said that it had sold its spot concern to Multiva “after a highly competitory and transparent process aimed astatine selecting the champion enactment for its customers.”

pic.twitter.com/3Y84dS3gfB

— CIBanco (@cibanco) August 20, 2025

The slope said that Multiva, which has branches successful 10 states, is known for its “strength and experience,” and is committed to “maintaining and strengthening the work that we’ve provided to our customers.”

“This determination was taken successful adjacent coordination with fiscal authorities and the shareholders of CIBanco, aft an exhaustive technical, operational, and regulatory analysis, considering the concern faced by the institution,” CIBanco said.

“Our nonsubjective has been to support the interests of our customers and to guarantee that operations proceed nether an instauration with the capableness and work to sphere and heighten the prime of work you deserve,” it said.

The slope said that a “key aspect” of the modulation is that CIBanco’s fiduciary squad volition articulation Multiva “as portion of the process.”

“This guarantees that clients volition proceed to beryllium served by the aforesaid squad of professionals who already cognize their operations,” CIBanco said.

“… We are profoundly grateful for the spot you’ve placed successful us,” the slope said to its customers.

“Our committedness doesn’t extremity with this transaction. We volition proceed working, unneurotic with Multiva, during the modulation process to guarantee it is carried retired orderly, safely and without interruptions to your operations,” CIBanco said.

Intercam: ‘The extremity is to supply continued support’

Intercam said successful a connection that Kapital Bank and Intercam Grupo Financiero “have taken a strategical measurement guardant by finalizing an statement for the transportation of Intercam’s assets and affiliates.”

Intercam’s assets volition beryllium acquired by Kapital Bank, Intercam said successful a connection posted to its website. (Intercam)

“The statement includes the acquisition of Intercam Casa de Bolsa, Intercam Fondos, arsenic good arsenic the assets, liabilities, branches and trusts of Intercam Banco,” the slope said.

“The extremity is to supply continued enactment to much than 238,000 Intercam clients, fortify our fiscal capabilities, guarantee uninterrupted service, and stay astatine the forefront of innovation and technology,” Intercam said.

The slope said that “all Intercam products, services and channels volition stay afloat disposable and proceed uninterrupted, present nether Kapital Bank, with the aforesaid personalized work that has defined Intercam Grupo Financiero for implicit 3 decades.”

That remark appeared to bespeak that Intercam’s existing branches volition stay open.

Kapital Bank has branches successful Mexico City, México state, Jalisco, Guerrero and Hidalgo, according to its website, and has an confederation with Scotiabank that allows customers to usage that bank’s ATMs without incurring charges.

Intercam said successful its connection that “the transportation of trusts volition beryllium carried retired successful an orderly manner, successful afloat compliance with existing contracts.”

“… The integration process — announced contiguous by the Mexican Ministry of Finance and Public Credit (SHCP) — volition beryllium gradual, transparent, and taxable to support by the Mexican regulatory authorities,” the slope said.

Kapital Bank, based successful Mexico City, has agreed to get the assets of Intercam Bank. (Kapital Bank)

For its part, Kapital Bank said that “upon closing” it volition put US $100 cardinal successful its banking operations to “reinforce operations and guarantee obligations to clients and investors are fulfilled.”

“Intercam’s clients volition proceed utilizing their regular products and channels, present with improved compliance and ratio owed to Kapital’s best-in-class exertion and AI, automation, and operational intelligence,” the slope said successful a statement.

Kapital Bank noted that it is incorporated successful Delaware and “backed by U.S. organization investors including Tribe Capital, Cervin Ventures, and Tru Arrow.”

“The transaction volition output Kapital astir 180,000 further clients. … Following the transaction, Kapital volition service adjacent to 300,000 customers and negociate implicit $3 billion in assets for customers successful the U.S., Mexico, and Colombia,” the slope said. 

An eventful week for CIBanco and Intercam

Earlier this week, CIBanco initiated ineligible enactment against the United States Department of the Treasury, which successful June accused CIBanco, Intercam and the brokerage steadfast Vector of laundering millions of dollars for cause cartels progressive successful the trafficking of fentanyl and different narcotics to the U.S.

The work Law.com reported connected Tuesday that “litigation boutique Dunn Isaacson Rhee has filed a suit alleging the Trump medication unlawfully blacklisted Mexico’s 20th largest fiscal instauration nether mendacious wealth laundering allegations.”

“The ailment alleges the U.S. Treasury Department’s Financial Crimes Enforcement Network arbitrarily blocked plaintiff CIBanco S.A. from accessing the U.S. fiscal strategy successful usurpation of the Administrative Procedure Act and Fifth Amendment to the U.S. Constitution,” the study said.

Law.com said that lawyers “deny the wealth laundering allegations connected behalf of their lawsuit CIBanco, an planetary commercialized slope headquartered successful Mexico City.”

CIBanco has filed suit against the U.S. Treasury aft the U.S. announced sanctions against CIBanco for providing fiscal services to cartels see the Beltran-Leyva Cartel, the Jalisco New Generation Cartel and the Gulf Cartel. (File photo)

Also connected Tuesday, Treasury’s Financial Crimes Enforcement Network (FinCEN) said successful a connection that that it had “extended the effectual dates for orders issued connected June 25, 2025, prohibiting definite transmittal of funds involving 3 Mexico-based fiscal institutions.”

FinCEN said that “covered fiscal institutions” successful the United States “will present person until October 20, 2025, to instrumentality the orders prohibiting definite transmittal of funds involving” CIBanco, Intercam and Vector, “each of which FinCEN recovered to beryllium of superior wealth laundering interest successful transportation with illicit opioid trafficking pursuant to the Fentanyl Sanctions Act and the FEND Off Fentanyl Act.”

It said that the hold “reflects continued steps taken by the Government of Mexico to meaningfully code the concerns raised successful FinCEN’s orders, to see maintaining impermanent absorption of the affected institutions to beforehand regulatory compliance and the prevention of illicit finance.”

“Treasury volition proceed to coordinate intimately with the Government of Mexico connected these matters and volition cautiously see each facts and circumstances with respect to the implementation of the orders,” FinCEN added.

Even though the United States’ prohibition of transfers involving CIBanco, Intercam and Vector has not officially taken effect, galore Mexico News Daily readers told america past month that they had experienced problems completing transfers to and from their CIBanco and Intercam accounts.

One MND scholar wrote successful the comments conception of this nonfiction connected Wednesday that helium is an Intercam lawsuit and has “not been capable to ligament transportation wealth nor deposit a cheque drawn connected a U.S. slope since this full happening started.”

‘Our currency is successful limbo’: Readers stock however US sanctions connected CIBanco, Intercam person affected their fiscal lives

“It was not postponed,” helium said, referring to the prohibition connected transactions involving U.S. banks and Intercam. “It went into contiguous effect.”

In contrast, different Intercam lawsuit told MND past period that she had been capable to marque transfers to her relationship from the United States.”

“As an Intercam customer, making a speedy telephone to my slope rep. informed maine however I could marque transfers from the U.S. into Intercam during this play (and I person successfully),” the person, who asked to stay anonymous, wrote successful an email.

The assertions from Mexico’s Finance Ministry, CIBanco and Intercam that the banks’ services volition not beryllium affected by their respective income to Multiva and Kapital Bank whitethorn not beryllium peculiarly reassuring for customers if they are presently experiencing problems transferring wealth to and/or from their accounts.

For CIBanco and Intercam customers who are presently capable to transportation wealth to and from the United States, that concern volition alteration by Oct. 20, according to FinCEN’s updated schedule, unless different hold is granted.

The merchantability of Intercam to Kapital Bank could besides alteration the script for Intercam customers whose accounts are transferred to Kapital — particularly if the transaction is completed earlier the Oct. 20 deadline.

Mexico News Daily

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