Thousands of Mexicans have a savings or credit account in one of the different banks in the country and the National Banking and Securities Commission (CNBV), announced on July 15 dozens of fines towards around 10 banks in the country. In the same way to the credit risk rating company Standard and Poor’s (S&P).
The fines amount to around 25.91 million pesos, among the banking institutions are HSBC, Banorte, Scotiabank, BBVA Mexico and S&P. Next, we tell you the reasons for these fines, and the amount of each bank.
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Reasons why the banks were fined
Among the reasons why the banks were fined, for not delivering required information to the CNBV, non-compliance with preventive reserves and Standard and Poor for lacking mechanisms when users request clarification.
Which banks were fined and how much was the penalty
- HSBC Mexico: obtained 5 fines totaling 8.86 million pesos, for failing to comply with the liquidity coefficients by law and not building reserves for its overdue portfolio.
- Banorte: He was given 20 fines for around 5.05 million pesos, for not delivering information to the CNBV on time that was required between the years of 2018 and 2019.
- Scotiabank: had 4 sanctions amounting to 3.53 million pesos, since 2019 for not delivering information required by the institution to the National Banking and Securities Commission.
- Inbursa: to the bank of the businessman Carlos Slim, he obtained 9 fines of around 2.28 million pesos, for failing to deliver the corresponding information.
- Citibanamex: He was sanctioned with around 873 thousand pesos.
- BanCoppel: with fines of 708,740 thousand pesos for not submitting to the CNBV, the report of operations by check in the third quarter of 2021.
- Mifel: banking institution that is under the ownership of Daniel Becker, the president of the Association of Banks of Mexico, this bank was sanctioned with a fine of 529, 509 pesos for deficiencies in internal control.
- BBVA Mexico: He had a sanction of 241,800 pesos.
While the credit risk rating company Standard and Poor: with a fine of 806 thousand pesos, because the institution’s contracts “lack mechanisms for customers to request clarification on the assigned ratings, as well as the minimum terms they have to the end”, this in the year 2018.
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