Overview

• Grupo Financiero Multiva announced an agreement to buy CIBanco’s entire fiduciary business through its subsidiary Banco Multiva in a filing to the Bolsa Mexicana de Valores.
• Banco Multiva said it will keep trust operations running normally within applicable compliance rules and will safeguard the rights of trust participants.
• The transaction still requires regulatory authorizations, and neither pricing nor other financial terms have been disclosed.
• CIBanco has administered roughly 3.0–3.1 trillion pesos in trusts, about 26–27% of the market, while Multiva holds under 1% according to recent figures.
• If approvals are granted, Multiva would become the leading player in Mexico’s fiduciary segment, according to the market data cited in the reports.