Banco Internacional de Comercio S.A.
Cuban state bank designated by OFAC in October 2026.
OFAC designated Banco Internacional de Comercio S.A. on 15 October 2026, freezing property within US reach and barring US dealings while a non-US wind-down runs through 14 November.
Last refreshed: 22 October 2026
How will OFAC's designation affect firms that still rely on BICSA?
Timeline for Banco Internacional de Comercio S.A.
Treasury blacklists a second Cuban bank
Cuba DispatchBackground
Banco Internacional de Comercio S.A. is a Cuban banking institution commonly known as BICSA. Cuba's official banking directory lists it separately from Banco Financiero Internacional, another institution with a similar English description. BICSA's listed SWIFT/BIC is BIDCCUHH.
OFAC identifies BICSA as both a financial institution and a state-owned enterprise. Its place in Cuba's banking system matters because international payments can touch US jurisdiction even when neither counterparty is American. The SDN listing blocks its property and interests in property within US possession or control. US persons generally cannot transact with the bank unless authorised. Foreign counterparties must also assess whether a transfer clears through the US financial system or creates sanctions exposure through another intermediary.
US sanctions close BICSA routes
OFAC added Banco Internacional de Comercio S.A., known as BICSA, to the Specially Designated Nationals List on 15 October 2026. The designation freezes BICSA property within US reach and generally bars US persons and banks from dealing with it unless authorised.
For non-US counterparties, OFAC allowed covered wind-down transactions through 14 November 2026. The listing therefore put BICSA's foreign payment relationships under immediate counterparty review. That wind-down did not authorise US persons, whose dealings with BICSA remained barred unless OFAC separately permitted them.
Reference
What is BICSA in Cuba?
Can foreign banks still transact with BICSA?
When did OFAC designate BICSA?
Written with AI from Lowdown's published reporting. Not individually reviewed by an editor. Updated 22 October 2026. Editorial standards.