J.P. Morgan Announces a US$250 Million Capital Increase to
its Mexican Subsidiaries.
New York, June 18, 2012 - J.P. Morgan announced that it has
made a capital increase of $250 million to its Mexican
subsidiaries. The sum, funded to J.P. Morgan Grupo
Financiero, S.A. de C.V., will allow the global financial
institution to provide additional lending capital to its
Mexican customers. The 62% capital increase brings the
firm's total capital in Mexico to approximately $653
million, making J.P. Morgan the 8th largest Mexican
financial group. The firm's wholesale business is the
largest in Mexico.
The additional capital planned for Banco J.P. Morgan,
pending final regulatory approval, will allow it to
increase its lending limits in the country and to provide
its growing list of clients with more credit opportunities.
J.P. Morgan Casa de Bolsa may also be funded with
additional capital, which will allow it to increase its
activitives in the Mexican equity market.
Eduardo Cepeda, Senior Country Officer of J.P. Morgan in
Mexico noted, "This capital increase is further
evidence of J.P. Morgan's long-term commitment to
Mexico, a country where the bank is making significant
investments in recruiting and developing staff, as well as
in state of the art systems. We are excited with the
opportunity this additional capital provides us to do more
with our clients."
J.P. Morgan traces its history of supporting Mexico with
financing needs back to 1886. It opened its first
Representative Office in Mexico in 1946, but it was not
until 1994 that J.P. Morgan started to operate as a
financial institution in the country. In that year, J.P.
Morgan Grupo Financiero, S.A. de C.V. was formed. The Grupo
Financiero includes a bank (Banco J.P. Morgan, S.A.) and a
broker dealer (J.P. Morgan Casa de Bolsa, S.A. de C.V.).
The bank's business has grown substantially over the
years and today, it occupies six full floors in Torre
Optima in the Lomas de Chapultepec neighborhood, with a
representative office in Monterrey. The firm's more
than 200 Mexico based employees provide a broad range of
financial services in the firm's leading divisions:
Investment Bank, Private Bank and Treasury & Securities
About J.P. Morgan
J.P. Morgan is the investment banking arm of JPMorgan Chase
& Co. (NYSE: JPM), a leading global financial services firm
with assets of $2.3 trillion and operations in more than 60
countries. The firm is a leader in investment banking,
financial services for consumers, small business and
commercial banking, financial transaction processing, asset
management and private equity. A component of the Dow Jones
Industrial Average, JPMorgan Chase & Co. serves millions of
consumers in the United States and many of the world's
most prominent corporate, institutional and government
clients under its J.P. Morgan and Chase brands. Information
about JPMorgan Chase & Co.www.jpmorganchase.com.