Banorte Receives Authorization to Sell Bineo to Klar: What You Need to Know

When Banorte introduced Bineo at the beginning of 2024, it did so as an ambitious venture: a 100% digital bank, with technological DNA and the promise to compete with the fintech players that had gained ground in the country. Months later, the story took an unexpected turn. This Tuesday, the financial group confirmed that it received regulatory approval to sell its digital bank to Clearscope Holdings, a subsidiary of Klar Holdings.

The transaction, which was disclosed last September, marks one of the most significant moves in the Mexican banking ecosystem in 2025. With it, Klar —which already operated in the country under the SOFIPO model— takes a definitive step towards traditional banking, while Banorte divests from an initiative that, for now, failed to deliver profitability.

The Approval Unlocking Banorte’s Transaction

Grupo Financiero Banorte reported that the National Antitrust Commission (CNA) —the competition regulator previously known as Cofece— approved the sale of 100% of Bineo’s shares. The resolution was officially received on Monday afternoon and immediately reported to the Mexican Stock Exchange.

With this approval, one of the most significant requirements has been met. However, the process is not yet complete. The consummation of the agreement depends on a series of mandatory steps that are still underway: -Authorization from the Ministry of Finance and Public Credit (SHCP) -Approval from the National Banking and Securities Commission (CNBV) -Technical opinion from the Bank of Mexico

Banorte indicated that these procedures are essential to finalize the change of control for Bineo. In other words, although the transaction is in progress, it is not yet completed.

Why Did Banorte Decide to Divest from Bineo?

Launching a digital bank from scratch requires resources, time, and patience. Bineo had resources and brand recognition, but not enough time to consolidate. In April 2025, Banorte publicly acknowledged that the project had not reached the expected profitability levels.

The commitment to a 100% digital bank implied constant investment in technology, customer acquisition, marketing, infrastructure, and regulatory compliance. By year-end, the institution quantified losses at 1,307 million pesos. This financial deficit caused a drop in third-quarter earnings and ultimately accelerated the decision: to sell.

Banorte explained that this setback does not define its business strategy but leads them to reconsider how they want to compete in the digital arena. The group is confident that its financial recovery will arrive in the first half of 2026, when the effects of the divestment are reflected in its financial statements.

Klar Steps Up: Why the Fintech Wants Bineo

For Klar, the acquisition of Bineo is more than an expansion: it’s a unique opportunity to become a bank without starting from scratch. In recent months, Stefan Möller —CEO and co-founder of Klar— explained that the primary appeal lies on two fronts: -Bineo’s structure, already approved and established under the banking model. -Its short operational history, which will allow for an accelerated change of control without a burdensome portfolio or obsolete processes.

Klar had already expressed its intentions to obtain a banking license in Mexico. As a SOFIPO, its scope was limited. To operate as a bank, it would have had to go through a long and costly regulatory process. Bineo emerged as a perfect alternative.

In fact, the formal process with the CNBV to request the change of control began in September. The acquisition will entail the orderly migration of infrastructure, clients, and services, although the operational details of the process are not yet known.

What’s Next for the Sale to Be Finalized?

For the transfer to be officially completed, Klar and Banorte must finalize: -Final approval from SHCP and CNBV -Formalization of the change of control -Closing conditions established by both parties -Operational and technological integration, which will occur once regulators authorize the transfer.

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This entry first appeared in [Líder Empresarial](https://www.liderempresarial.com).