Mexico City, Mexico — Financial regulator National Banking and Securities Commission (CNBV) has revoked CIBanco’s license. The revocation means authorities have started the bank’s liquidation process.
The Institute for the Protection of Bank Savings (IPAB) reported that as a result of the revocation, its Board of Governors approved proceeding with the payment of deposits.
In a statement on Friday, the IPAB (Instituto para la Protección al Ahorro Bancario) announced that it had authorized payments to individuals who have savings at the institution following the revocation of CIBanco’s license.
“The IPAB will begin the payment process for savers’ insured deposits on October 13, 2025,” the institute stated.
According to IPAB, CIBanco branches began closing October 10, noting that 205 will remain open for inquiries, clarifications, or requests for payment of guaranteed deposits.
Its trust business has been transferred to Banco Multiva and its auto loan portfolio was sold to BanCoppel. The sale of businesses such as the brokerage firm and the corporate loan portfolio are still pending.
CIBanco (Institución de Banca Múltiple) was one of three Mexican financial institutions accused of money laundering linked to fentanyl trafficking in June of this year. Intercam Banco, a second bank accused of money laundering, was acquired by Kapital Bank, while brokerage firm Vector, also accused of money laundering, transferred its client portfolio and assets to join Finamex.
The revocation of CIBanco’s license comes just days before the expiration of the extension granted by the U.S. Treasury Department to isolate CIBanco, Intercam and the brokerage firm Vector from the financial system, a measure that will take effect on October 20.
