“Mexico was out of focus globally for quite a long time,” says Javier Malagón Navas, finance director at BBVA Bancomer. “China was the centre of attention and Mexico lost a lot of its manufacturing exports. However, for a number of reasons, Mexico has been discovered again. The economy has been growing faster than before and we expect that to continue. That is reflected in Bancomer’s results.”
BBVA Bancomer, the 99%-owned Mexican subsidiary of Spanish bank Banco Bilbao Vizcaya Argentaria, contributes up to 30% to group income and is optimistic about its future because of the fast-growing Mexican economy and the country’s low rate of financial intermediation.
Thanks for your interest in Euromoney!
To unlock this article:
