Background of the Institutions
In May 2025, CIBanco, Intercam Banco, and Vector Casa de Bolsa were thriving entities with decades of experience and strong financial performance within the Mexican banking system.
- CIBanco: Ranked 23rd in the banking system, with over 140,000 million pesos in assets and a participation of 0.90%
- Intercam Banco: Ranked 25th with over 92,700 million pesos in assets and a participation of 0.60%
- Vector Casa de Bolsa: One of the leading entities in its type, with over 45,000 million pesos in assets
The U.S. Department of Treasury’s Allegations
On June 25 of the same year, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) accused these three Mexican financial institutions of allegedly enabling money laundering operations related to fentanyl trafficking.
Consequences of the Allegations
Following these allegations, Mexican financial authorities immediately intervened in the three institutions to protect clients and the overall financial system. However, the impact on these institutions had already begun to unfold despite the extensions granted by the U.S. Treasury Department for their measures against these entities to take effect.
- August: Banco Multiva acquired CIBanco’s fiduciary business, marking the start of CIBanco’s decline.
- August: Part of CIBanco’s automotive credit portfolio was sold to BanCoppel.
- October: CIBanco’s license was revoked, initiating a liquidation process that continues today.
- August: Kapital Bank acquired a significant portion of Intercam’s businesses, including the bank, brokerage, and investment funds.
- October: Vector Casa de Bolsa transferred its assets to Finamex, another leading brokerage in the market.
Key Questions and Answers
- Q: Who are CIBanco, Intercam Banco, and Vector Casa de Bolsa?
A: They were prominent Mexican financial institutions with 3-4 decades of experience in banking and brokerage services. - Q: What were the allegations against them?
A: The U.S. Department of Treasury accused them of enabling money laundering operations related to fentanyl trafficking. - Q: How did the allegations affect these institutions?
A: Their decline was marked by asset sales, license revocations, and liquidation processes. - Q: What is the current status of each institution?
A: CIBanco no longer operates due to license revocation and liquidation; Intercam Banco is undergoing restructuring after selling most of its Kapital Bank businesses; Vector Casa de Bolsa transferred its assets to Finamex and had its operating license revoked, though it remains as a corporation.
