Recognitions and
Ratings

S&P confirms Banco Monex's global and national ratings

On Aug. 20, 2018, – S&P Global Ratings affirmed its 'BB+/B' global scale and 'mxA+/mxA-1' national scale ratings on Banco Monex, S. A., Institución de Banca Múltiple, Monex Grupo Financiero (Banco Monex). At the same time, we affirmed our 'mxA+/mxA-1' ratings on Monex Casa de Bolsa S.A. The outlook onall ratings remains stable.

Overview

• Ratings on Mexico-based Banco Monex reflect its stable revenue generation from foreign exchange (FX) transactions and increasing lending, despite recent international subsidiaries deconsolidation. Also, we expect our projected risk-adjusted capital (RAC) ratio for the bank to remain above 10% in the next two years despite sharp loan portfolio growth and expected asset quality deterioration.

• Consequently, we're affirming our 'BB+/B' global scale and 'mxA+/mxA-1' national scale ratings on the bank and our 'mxA+/mxA-1' ratings on its affiliate, Monex Casa de Bolsa.

• The stable outlook reflects our expectation that our projected RAC ratio will average 10.3% for the next 12 to 24 months, thanks to more prudent credit growth rate and sufficient internal capital generation while the bank maintains manageable asset-quality indicators.

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Fitch Ratings affirms ratings to Holding Monex and subsidiaries; Stable perspective

On October 10, 2018: Fitch Ratings reaffirmed the national long-term ‘A (mex)’ rating for Holding Monex; as well as the short-term ‘F1(mex)’ rating for Holding Monex. Fitch Ratings also declared the ratings assigned to the major operating subsidiaries of Holding Monex as follows: Banco Monex S.A., and Monex Casa de Bolsa at ‘A+(mex)’ and ‘F1(mex)’. The outlook on the long-term ratings is Stable.

 

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S&P confirms Banco Monex's global and national ratings

 Mexico City, March 30, 2017 - S&P Global Ratings confirmed its long- and short-term credit counterparty ratings on a global scale for Banco Monex S.A. (Banco Monex) at BB+ and B, respectively.  At the same time, Standard & Poor’s S.A. de C.V., a subsidiary of S&P Global Ratings, confirmed the bank’s long- and short-term ratings on the national scale (CaVal) of mxA+ and mxA-1, respectively. Finally, it confirmed its national-scale ratings of Monex Casa de Bolsa, S.A. at mxA+ and mxA-1, in that order.  The outlook on the ratings on both scales remains stable.

Summary 

• Banco Monex, located in Mexico, has continued to improve its financial performance with the support of revenues from its foreign-exchange business. It has also kept its asset quality indicators below those of the system despite the aggressive growth in its portfolio in recent years.

• We confirm our long- and short-term credit counterparty rating on a global scale of BB+ and B, respectively, and our long- and short-term national scale ratings of mxA+ and mxA-1 for the bank. We also confirm our national-scale ratings of mxA+ and mxA-1 for its affiliate, Monex Casa de Bolsa.

• The stable outlook reflects our expectation that the bank will maintain its leading position in the foreign-exchange business, as well as risk-adjusted capital sufficiency index of 10.5% in coming years, while continuing to expand its loan portfolio.

 

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S&P Assigned ratings to Banco Monex and Monex Casa de Bolsa

 On April 29, 2016, Standard & Poor's Ratings Services affirmed its 'BB+/B' global scale and 'mxA+/mxA-1' national scale ratings on Banco Monex S.A. We also affirmed our 'mxA+/mxA-1' ratings on Monex Casa de Bolsa, S.A. The outlook on both scales remains stable.

At the same time, we are affirming our 'mxA+' national scale rating on the bank's senior unsecured notes (BMONEX 15).

 

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Fitch Ratings affirms ratings to Holding Monex
and subsidiaries; Stable perspective

On November 26, 2015 Fitch Ratings reaffirmed the national long-term ‘A (mex)’ rating for Holding Monex; as well as the short-term ‘F1(mex)’ rating for Holding Monex. Fitch Ratings also declared the ratings assigned to the major operating subsidiaries of Holding Monex as follows: Banco Monex S.A., and Monex Casa de Bolsa at ‘A+(mex)’ and ‘F1(mex)’. The outlook on the long-term ratings is Stable.

 

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ISO 9001:2008 Certification

Monex Grupo Financiero received the Certificate ISO 9001:2008 for the following product or service ranges: 

“Antimoney laundering, antiterrorism financing and integrated risk management process for all financial products and services", on behalf of global risk management service provider, Det Norske Veritas México, S.A. de C.V., DNV , with RvA & UKAS International Accreditations. 

We continue to improve in order to uphold our client’s trust by offering them more reliable and competitive products and services

Monex Grupo Financiero receives the prize Structured retail products

We obtained again the Structured Retail Products award:

1. Best Distributor Mexico

2. Best House Foreign Exchange

3. Best House Mexico

With these awards we reaffirm our leadership in the market of structured products in Mexico.

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Monex Financial Group receives recognition for being
one of the Best Companies to Work in México

Monex Grupo Financiero received, for a 16th consecutive year, the “One of the Best Places to Work in Mexico” award, from the Great Place to Work Institute.

As it is widely known, the Great Place to Work Institute bases its study on 5 values: Credibility, Respect, Fairness, Pride and a Friendly Atmosphere. The survey is applied in 34 countries. 

As we have mentioned in previous years, this acknowledgment strengthens our commitment to jointly collaborate to make Monex a better place to work.

Monex, 15 years of being a Socially Responsible Company

For the Fifteenth​ consecutive year, Monex was named a  Socially Responsible Company  by the Mexican Philanthropy Center (CEMEFI, for its acronym in Spanish) and the Alliance for Corporate Social Responsibility in Mexico (AliaRSE), organisms who grant this acknowledgment to companies who satisfactory meet the criteria set in four different areas: Living Standards within the Company, Corporate Ethics, Community Involvement, and Environmental Care and Preservation.     

Likewise, Monex maintains its social commitment by allocating at least 1% of its profit before taxes to investing in social causes.   

For us at Monex , Corporate Social Responsibility is a valuable strategy that allows us to achieve our business goals, while positively impacting the groups we come in contact with: collaborators, clients, vendors, shareholders, authorities, the community and the environment. 

Recognition : Secretaria de Salud del Distrito Federal

In 2015 the Secretarla de Salud de la Cd. de México in colaboration with the Consejo para la Prevención de la Obesidad y el Consejo Empresarial de Salud y Bienestar gave Monex the recognition for Healthy Responsible Organization, for the acomplishment and continous follow up of specific indicators on prevention, health promotion and wellness culture in workspace.

The Best Companies to Work in México in Gender Equity

On August 12th, 2016, Monex Grupo Financiero received, the “One of the Best Places to Work in Mexico in Gender Equity” award, from the Great Place to Work Institute. 

Great Place to Work Institute takes into account companies who score above 70, with higher female population to 30%, and 20% are in managerial and executive positions; and the responses of women in issues of discrimination and the practices and policies that promote gender equity. 

As we have mentioned in previous years, this acknowledgment strengthens our commitment to jointly collaborate to make Monex a better place to work.

Family Responsible Certification

Since 2014, the Department of Labor and Social Security granted the Family Responsible certification to our head office and 18 branch offices, resulting from good labor practices in terms of work and family life conciliation, gender equality and opportunity fairness, as well as prevention and combat of labor violence and sexual harassment. 

With such certification, Monex reaffirms its commitment to the wellbeing of our collaborators, with the purpose of having a space where the values of respect for the dignity of others and labor rights rule. 

Expansión Ranking- The 500 Most Important Companies in Mexico

Grupo Financiero Monex ranks in 307 and Monex Casa de Bolsa, in 388.

In addition, Monex Casa de Bolsa is among the companies with the highest percentage growth in sales.

The ranking assesses companies that offer goods and services and that report revenue or sales; the purpose of this list is to offer a general view of the main Mexican companies considering several indicators. 

Global Pact

In the year 2005, Monex decided to voluntarily and decisively form part of the United Nation’s Global Compact initiative, whose ten fundamental principles address human rights, labor regulations, environment protection and the fight against corruption.