LatinNews Daily - 13 October 2025

*Mexico’s bank bailout agency, Instituto Para la Protección al Ahorro Bancario (Ipab), has announced that it has revoked the operating licence of CIBanco, one of two commercial banks that were sanctioned by the US in June for allegedly laundering money for drug cartels, and is starting the process of liquidating its assets. In a statement, Ipab said it would begin the process of paying out insured deposits to CIBanco account holders today (13 October). Ipab noted that it covers accounts up to 400,000 investment units per person, equivalent to M$3.42m (US$185,114) as of 10 October. Mexico’s government, through its finance regulator, Comisión Nacional Bancaria y de Valores (CNBV), took over the administration of CIBanco, as well as another sanctioned bank, Intercam, and a sanctioned brokerage company, Vector Casa de Bolsa, shortly after the sanctions were announced. It has since sold off a significant part of the operations of both CIBanco and Intercam.

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