Mexican retail banks are keen to emphasize the great opportunity that they have to grow by using their existing customer base: improving efficiencies (mostly driven by digital platforms) and boosting the average product sales-per-client ratios have been the growth formula for all the established banks.
This consensus also has the happy by-product of avoiding head-on conflict with competitors and the risk for price wars that could imply.
HSBC Mexico is different – now, anyway. For the first time since 2002, when the bank bought Grupo Financiero Bital for $1.14
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