MEXICO CITY, April 10, 2017 /PRNewswire/ -- Grupo Financiero Santander México, S.A.B. de C.V. (BMV: SANMEX; NYSE: BSMX) ("Santander México" or the "Group") one of the leading financial groups in Mexico announced that its subsidiary, Banco Santander (México), S.A. Institución de Banca Múltiple, Grupo Financiero Santander México ("Banco Santander México" or the "Bank") has been designated a Level III - Domestic Systemically Important Financial Institution by the Mexican National Banking and Securities Commission (the "CNBV") for the second consecutive year.
The capital buffer applicable to Banco Santander México remains at 1.20%, in addition to a regulatory capitalization ratio of 10.5%. This capital buffer can be built progressively over a maximum period of four years starting 2016, and the Bank's minimum capitalization ratio should amount to 11.7% by the end of 2019.
While the CNBV allows for the progressive fulfillment of the capital buffer requirement, Banco Santander México reported a capitalization ratio of 15.74% as of December 31, 2016. Thus, Banco Santander México already complies with this regulatory requirement.
About Grupo Financiero Santander México
Grupo Financiero Santander México, S.A.B. de C.V. (Santander México), one of Mexico's leading financial services holding companies, provides a wide range of financial and related services, including retail and commercial banking, securities brokerage, financial advisory and other related investment activities. Santander México offers a multichannel financial services platform focused on mid- to high-income individuals and small- to medium-sized enterprises, while also providing integrated financial services to larger multinational companies in Mexico. As of December 31, 2016, Santander México had total assets of Ps.1,374 billion under Mexican Banking GAAP and more than 13.5 million customers. Headquartered in Mexico City, the Company operates 1,075 branches and 314 offices nationwide and has a total of 16,976 employees.
Cautionary Statement on Forward-Looking Statements
This press release contains forward-looking statements. The forward-looking statements contained herein include, without limitation, statements about the intent, belief, targets or current expectations concerning the future business development and performance of Banco Santander (México), a subsidiary of Grupo Financiero Santander México. While these forward-looking statements represent our judgment and current expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. Information relating to risks, uncertainties and other factors that affect our business are included in our annual report on Form 20-F filed with the U.S. Securities and Exchange Commission. The risks and uncertainties included in our filings and reports, including those with the U.S. Securities and Exchange Commission, could adversely affect our business and financial performance. You should not place undue reliance on these forward-looking statements, which speak only as of the date they were made, and we undertake no obligation to update publicly or to revise any forward looking statements, except as required by applicable law.
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SOURCE Grupo Financiero Santander Mexico, S.A.B. de C.V.