Mexican bank Banco Azteca has requested a banking license from Honduras’ banking and insurance regulator CNBS in a second attempt to enter the system, an official from CNBS told BNamericas.
In May last year, Banco Azteca requested permission to enter the Honduran financial system. However, in January the regulator denied authorization due to an SEC lawsuit filed against Banco Azteca’s controller Ricardo Salinas for alleged insider trading in a debt purchase transaction carried out by Mexican mobile operator Unefon.
Banco Azteca appealed the CNBS ruling but the appeal was recently rejected.
Azteca has applied again for a banking license, which is currently being analyzed, the official said.
There are no official documents posted on CNBS’s website regarding the request.
As of March 31, Banco Azteca reported 35.7bn Mexican pesos (US$3.18bn) in assets. It holds ninth spot in the banking system ranking with a market share of 1.35% in terms of loans at end-March.
Banco Azteca parent company is retail group Elektra (NYSE: EKT), which sells consumer electronics, appliances, and furniture in Guatemala, Honduras, Panama and Peru.
Grupo Elektra also offers financial services across Mexico and Panama through its Banco Azteca, Afore Azteca, and Seguros Azteca units. The family of late founder Hugo Salinas Rocha controls both Grupo Elektra and broadcaster TV Azteca.
By Maria Alejandra Moreno
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