The financial crisis is shaking up Mexico’s banking sector, with the country’s biggest financial institutions experiencing mixed fortunes this year.
Arguably, the biggest winner has been BBVA Bancomer, which can now claim the top spot in Mexico. With a leading market share in most key areas, from deposits and loans to credit cards and mortgages, Bancomer has taken full advantage of opportunities.
| "We feel that the image of Bancomer is more solid now than it was at the beginning of the crisis. We kept credit open for all sectors throughout the crisis" Eduardo Avila, Bancomer |
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"We feel that the image of Bancomer is more solid now than it was at the beginning of the crisis," says Eduardo Avila, chief financial officer at the firm. "We kept credit open for all sectors throughout the crisis – the big corporates, retail guys and government people recognized this." He adds: "We didn’t have any instructions from headquarters in Spain to be more cautious. Our risk platform was working well and we have had the liquidity and the capital to continue lending."
Bancomer’s deposits increased as account holders moved cash into the Spanish bank amid rumours that other banks were struggling during the crisis.