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BanCoppel buys Banco Famsa's business loan portfolio

Mexico's BanCoppel SA Institución de Banca Múltiple has acquired a business loan portfolio worth 2.70 billion pesos from Banco Ahorro Famsa SA Institución de Banca Múltiple, El Economista reported.

The portfolio consists of credit to 206 clients ranging from small and midsize enterprises to newer businesses. The bank bought the portfolio in a tender carried out by deposit insurance agency IPAB.

Following the acquisition, BanCoppel estimates that its business portfolio increased to 10.80 billion pesos, based on year-end 2020 figures.

Banco Ahorro Famsa's banking license was ordered revoked in June 2020 and is undergoing liquidation for failure to meet regulatory provisions, following the application for bankruptcy protection filed by retailer parent Grupo Famsa SAV de CV.

Crédito Real SAB de CV Sociedad Financiera de Objeto Múltiple ENR had acquired Banco Ahorro Famsa's loan portfolio related to the payroll business segment, which is valued at about 11.06 billion pesos.

As of Jan. 15, US$1 was equivalent to 19.76 Mexican pesos.