The undersecretary of Finance, Gabriel Yorio, stressed that this revocation of the license has nothing to do with the health contingency or with the behavior of clients such as the delinquency rate.
“The resources that the IPAB will use to reimburse the deposits of the savers do not come from the budget of the Government of Mexico. Neither will resources of fiscal origin be disbursed for this liquidation process. The deposit insurance payment is made out of the Protection Fund to Bank Savings, which receives monthly fees from all multiple banking institutions, “explained the Treasury.
What should you do to get your money back? According to Gabriel Limón, customers must enter the page www.gob.mx/ipab to request a refund.
If your account had less than 9,000 pesos, the page will give you a code to withdraw your money from a BBVA ATM with the option of “withdrawal without card”. You can do this from Thursday so you can do the retreat from Friday, July 5 and Saturday, July 6.
According to the IPAB, 87% of the accounts at Banco Famsa had less than 9,000 pesos since the average amount of the accounts is 400 pesos.
For people who had more than 9,000 pesos in their account, they will receive a check at their home address that must be requested through the website. Only the account holder can collect the money and deposit it in the account of another bank and this process will take from one to two weeks.
The executive secretary of the IPAB highlighted that in Banco Ahorro Famsa there were accounts for up to 340,000 pesos.
If you requested a loan from the bank, you can make your payments through the usual channels to avoid future penalties.
In the first quarter of 2020, Grupo Famsa reported that its sales decreased 4.9% compared to the first quarter of 2019 due to lower demand for durable goods. Until the end of March, Grupo Famsa had 18,978 employees in the country.
An analysis by BBVA Mexico revealed on Tuesday that the bank’s assets represented 0.35% of the banking system’s assets and that since April it already showed a downward trend in their level of capitalization, profitability and the quality of their portfolio prior to the start of the pandemic.
Even though its ICAP stood at 11.3% in March, the average of this indicator during the first quarter of 2020 was 10.9%, a considerable drop from the 12.1% average for all of 2019. Additionally, this institution showed profitability levels (ROE ) negative and decreasing since last October until reaching an ROE of -6.4% last April.
“Despite the existence of this group of vulnerable institutions, it is important to note that they do not represent a high percentage of the assets of multiple banks and, therefore, do not jeopardize the operation of the banking system as a whole,” stressed the BBVA Mexico report.
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