The Chile Financial Market Commission (CMF) has authorized the existence and bylaws of Tenpo Bank Chile, advancing the firm through the second of three stages required to complete its establishment under the General Banking Act. The resolution allows the provisional board of directors to begin operating and provides for the appointment of a permanent general manager and deputy general manager. The establishment process began in October 2024 with a Certificate of Provisional Authorization under Article 27 of the General Banking Act. The remaining stage is an Operating Authorization, which the CMF will grant once Tenpo Bank Chile demonstrates it is ready to begin operations.
Chile Financial Market Commission 2025-02-03
Chile Financial Market Commission authorizes Tenpo Bank Chile’s existence and bylaws as second step toward a banking license
The Chile Financial Market Commission has authorized the bylaws of Tenpo Bank Chile, advancing it to the second stage of establishment under the General Banking Act. This resolution permits the provisional board to operate and appoint key management positions. The final stage, Operating Authorization, will be granted once readiness for operations is demonstrated.