MEXICO CITY, Nov. 27, 2013 /PRNewswire/-- Grupo
Financiero Santander Mexico, S.A.B. de C.V. (BMV: SANMEX; NYSE:
BSMX) ("Santander Mexico" or the "Company") today announced
that the Board of Directors of its subsidiary Banco Santander
(Mexico), S.A. Institucion de
Banca Multiple, Grupo Financiero Santander Mexico, resolved among
other items, to (i) convene an Ordinary and Extraordinary General
Shareholders Meeting at which, among other items, it will submit to
its shareholders for approval, the payment of a cash dividend to
its shareholders in an approximate amount between U.S.$1,000 million and US.$1,300 million and (ii) authorize the issuance of
subordinated notes that comply with capital requirements under
Basel III for Tier 2 capital in an aggregate amount of
approximately U.S.$1,000 million,
subject to market conditions and regulatory approvals.
In addition, the Board of Directors of Grupo Financiero
Santander Mexico, S.A.B. de C.V. resolved to convene an Ordinary
and Extraordinary General Shareholders Meeting at which it will
seek approval for, among other items, the payment of a cash
dividend to its shareholders in an amount between U.S.$1,000 million and US.$1,300 million which will mainly come from the
amount to be received from Banco Santander (Mexico) S.A.
The above is part of a strategy to optimize the Bank's capital
as it seeks to obtain a lower cost of capital and higher returns on
equity.
Banco Santander S.A. (Spain)
has expressed its intention to purchase 75% of the debt issuance
referenced above and to ensure its complete subscription.
In the event that the two operations are consummated, it is
estimated that the Bank will maintain a Tier 1 capital ratio of at
least 12% and a Tier 2 capital ratio of approximately 2.5%.
This press release does not constitute an offer to sell or
the solicitation of an offer to buy nor shall there be any sale of
securities in the United States of
America or any other jurisdiction in which such offer,
solicitation or sale would be prohibited prior to registration or
qualification under the securities laws of the United State or any
such jurisdiction. The offering of debt securities described in
this press release have not been registered under the United States
Securities Act of 1933 or any applicable securities laws of any
other jurisdiction. Without such registration, the securities
described above may not be offered or sold in the United States or any other jurisdiction
except pursuant to an exemption from the registration requirements
of the Securities Act of 1933 or any applicable securities laws of
such other jurisdiction.
About Grupo Financiero Santander Mexico
Grupo Financiero Santander Mexico, S.A.B. de C.V. (Santander
Mexico), 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 Mexico 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
September 30, 2013, Santander Mexico
had total assets of Ps.806.3 billion under Mexican GAAP and more
than 10.6 million customers. Headquartered in Mexico City, the Company operates 991 branches
and 238 offices nationwide and has a total of 13,883
employees.
Investor Relations Contact
Gerardo Freire
+(5255)52691827
investor@santander.com.mx
SOURCE Grupo Financiero Santander Mexico, S.A.B. de C.V.