In the Association of Banks of Mexico (ABM) there is no concern about the announcement of the sale of Banamex announced by Citigroep last week, as these types of operations are common within the business world, in addition to the fact that there are clear rules to follow, said Daniel Becker, president of the organization.
There are very clear rules and potential buyers must meet very clear requirements to be able to manage an operation like this. There is no concern, “Becker said.
The leader of the bankers emphasized during a video conference on the occasion of the associated committee meeting that, since both the financial authorities and directors of Citibanamex, the US group’s decision to leave Mexico with its consumer and corporate businesses is not related to local conditions, but to a redefinition of the business model.
“We are not worried, because it is important to be clear that Citi has long defined itself as going to the corporate market and investment banking, and they have already done so in 13 countries in Asia; “They have already announced that they will do it all over the world and they will do it in Mexico,” he said.
He emphasized that the purchases and sales of institutions often occur in the business world, and recalls that in 2001 Banamex sold to Citi, its current owner, and that nothing happened to the users.
Customers are safe
Becker emphasized that, in this sense, the customers of Citibanamex they are safe and will have no problem, not in the sales process or when completed.
“It is important to point out that none of Banamex’s customers will now suffer any problems during the process, nor as soon as the bank is acquired by a buyer, because it will obviously have to go through all the regulatory obligations. , ”He emphasized.
It can be Mexican or foreign capital
Given what President Andrés Manuel López Obrador said, that it would be preferable for Banamex to remain in the hands of Mexicans, the leader of the bankers expressed that they respect that position, but that they are agnostic in the ABM for the origin of capital .
“But we are not agnostic about the fact that the one who manages such an important asset is a group that has the technical and professional skills to manage it,” he said.
Welcome to the competition
The president of the ABM declares that, as soon as the dissolution of Banamex, Citi will be an additional competitor, with a license of its own, which he welcomed.
“ABM embraces and favors that there are always elements of competition. This is what improves and brings better products to Mexicans, ”he said.
As to whether there would be any issue of market concentration if one of the big banks were to buy Banamex, as has been discussed so far, the banker said that there is speculation at the moment as it is a process that has started but that This will in any case be an issue raised by the Federal Commission on Economic Competition (Cofece).
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Reference-www.eleconomista.com.mx