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CNBV: Mexican banks meet capital requirements; ICAP at 15.79% in August

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CNBV: Mexican banks meet capital requirements; ICAP at 15.79% in August

Mexico's banking and securities commission CNBV said the local banking sector has met its capital requirements as of end-August, with the banking capitalization index, or ICAP, standing at 15.79%.

In addition, the banking sector has a basic capital ratio of 14.41% and core capital ratio of 13.76% for the period.

As of April, seven institutions are considered systemically important in Mexico, including Grupo Financiero Inbursa SAB de CV, Grupo Financiero Scotiabank Inverlat SA de CV and Grupo Financiero HSBC SA de CV in grade I; Grupo Financiero Banorte SAB de CV in grade II; Grupo Financiero Santander Mexico SAB de CV and Grupo Financiero Banamex SA de C.V. in grade III; and Grupo Financiero BBVA Bancomer SA de CV in grade IV.

"All institutions were in the early warning category I and met the minimum capitalization requirement of 8% plus the 2.5% capital preservation supplement constituted with core capital, which implies an ICAP level of 10.5%," CNBV said.