Ixe Grupo Financiero

Ixe Banco
IXE headquarters in Mexico  

Ixe Banco

Ixe Grupo Financiero (formerly Fimsa Grupo Financiero) was a Mexico-based company primarily engaged in the financial sector. It provided retail, commercial and corporate banking services through more than 100 branches across Mexico. The Group included the main subsidiary Ixe Banco S.A., brokerage firms Ixe Casa de Bolsa and Ixe Securities, mutual fund manager Ixe Fondos, and pension fund manager Ixe Afore. IXE also controlled a majority interest in mortgage lender Fincasa Hipotecaria and auto financing company Ixe Automotriz. Ixe Group had the world class partners in several business lines, including a 50/50 joint venture in credit cards with JPMorgan Chase. In 2007, U.S. private equity firm Brysam Global Partners bought 28.4% of IXE Group for US$230 million.

In 2011, Ixe Grupo Financiero was sold to Grupo Financiero Banorte for 16.2 billion pesos (US$1.3 billion).

 IXE Corporate Structure

 Entity Main activity
Ixe Banco, S. A. Banking services
Ixe Casa de Bolsa, S. A. de C. V. Securities broker dealer
Ixe Fondos, S. A. de C. V. Mutual funds administrator
Ixe Automotriz, S. A. de C. V. Credit, financial and operating leasing
Fincasa Hipotecaria, S. A. de C. V. Mortgage finance
Ixe Soluciones, S. A. de C. V. Loan portfolio management and workouts
Ixe Servicios, S. A. de C. V. Administrative services

Head office address:
Paseo De La Reforma 505
piso 45 Col. Cuauhtemoc
Mexico, DF 06500