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Deutsche Bank wants to suspend the sale of its subsidiaries in Mexico to the small local bank Accendo Bancoinformed the institutions Sunday without giving details of the decision.
The transaction, announced late 2016, is in limbo since it was learned that one of the major shareholders of Accendo Banco, known at the time as the InvestaBank, was arrested in the United States, charged with fraud and money laundering.
"We informed Accendo Banco that we are exercising our right to terminate the purchase agreement," Deutsche Bank said in a statement.
"We will continue to consider the best interests of our employees and customers when considering alternative options.Our commitment to serving our customers in Mexico through our global centers remains unchanged," he added.
Accendo Banco said that he was not in agreement with the intention to suspend the operation and that he was analyzing the news of the decision made by the German lender Friday.
"This event was reported as soon as possible to the Mexican financial authorities, with whom close communication took place throughout the purchase-sale process," he added.
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