Bank of Mexico has no dividend for government

Bank of Mexico

The Bank of Mexico has reported that its operations in 2020 did not produce enough profit to transfer any proceeds to the federal government.

The central bank, also known as Banxico, said the appreciation of the peso had cut into earnings on its portfolio, according to audited returns published on April 23.

Under Article 55 of the Bank of Mexico law, the central bank is a “non-profit institution” and has to remit any profits to the federal government. However, it only does so if the transfer

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