In the midst of the sale of Banamex, the Association of Banks of Mexico (ABM) assured this Wednesday that President Andrés Manuel López Obrador’s wish is that the bank remain in Mexican hands is good, but in banks are “agnostic” regarding the origin of capital and the important thing is that it be a group that has the technical capabilities.
In accordance with ABM President Daniel Becker Feldman This operation is not something that worries them since these types of transactions are common in the sector around the world, in addition, they will have to comply with all regulatory procedures.
“The president’s wish is a good wish, in the ABM we are agnostic to the origin of the capital, but we are not agnostic to the fact that the one that manages such an important asset is a group that has the technical and professional capacities to manage it,” he assured.
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Also, Becker Feldman commented that in Mexico there are very clear rules, so potential buyers must meet the requirements to manage an operation with Banamex, so they are not worried.
“In terms of concentration, we do not want to enter into speculation, the process is not opened publicly, let’s see who the possible buyers are and if in that case we might talk regarding concentration, that’s what Cofece (Federal Economic Competition Commission) is for,” he explained.
However, the president of the Association of Banks of Mexico recognized that evidently, with the new Citi license, there will be an additional competitor in the corporate, institutional market, which is welcome.
“From the point of view of the retail part, of retail banking, if Citibanamex is going to generate greater elements of competition, we would be in the field of speculation, we do not know who is going to be the buyer, what strategy they have, we do not know exactly what it intends to do, from my point of view it would be difficult to think or evaluate or make a diagnosis from the point of view of whether there are going to be greater elements of competition”, he considered.
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However, he stated that ABM embraces and favors that there are always elements of competition, since this element brings better products to Mexicans.
The representative of the sector also ruled out that the sale of Banamex will affect its clients, since the purchase and sale of banks is common in the industry worldwide.
“The answer (on the effects of Banamex users) is absolutely none, the purchases and sales of banking institutions occur often, it is not that it is not part of the common practice in the business world, however, evidently because it is a bank Some perceptions have emerged, which are worth highlighting, Banamex clients will not suffer any problem during the process and once the bank is acquired by a buyer, because it will have to go through all the regulatory procedures, “he said .
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