Banco Azteca Finally Gets Nod

Honduran bank regulator (CNBS) has approved the application of Mexican Banco Azteca for a license to operate in Honduras, just over a year after it rejected the bank’s first application. Last January, the regulator cited as a reason the bank’s failure to disclose pending fraud charges against Azteca’s owner, Ricardo Salinas, in the US. Banco Azteca applied again to the CNBS in July. The charges against Salinas were later dropped after the US Securities and Exchange Commission (SEC) and Salinas came to an agreement.