Citibanamex: financial sector reconfiguration

Since the 11th of January, much has been said about the Citi’s decision to sell consumer and commercial banks in Mexico. Some arguments are being made about the poor management of Citi and others in the sense that the current government has no confidence in the conditions for it. In those sentiments some plant that is the prime of the extraneous banks that sell it that denominates a chaotic economic management, other than that Citi has followed this strategy in Asia and Europe and is part of its model of negotiations.

One more sign that Citi’s health needs to be addressed is that it does not manage to contain the giants and internal frauds (Oceanography within them), as well as the lax and inefficient controls before the new provisions in the provisions of the Lavy de Dinero that se dieron en 2021 en Estados Unidos. Otros more assured that have given an annuncio tan precipitado should be that there are themes that the American authorities ultimaron for multitudes, more significant of the ones he held in years past, and that mandaran the profitability and reputation to a significant deterrent.

Do not specify in this space all periodicals supporting the arguments. Citibanamex’s decision – very closely analyzed by the Board of Directors of the Bank – for much speculation and theories of different types, however, the objective of these lines is to plant the relevance to the strategic sector, which is to the financial sector only for the banker because the manner in which he lives in accordance with the sale of an institution that impacts the system’s redesign in order to encourage the development of the country in the best way, to agree with the plan that is being implemented to accelerate.

Consequently, it is very important to know the result of the analysis that is certainly being made by the Secretariat of Health and Public Credit (SHCP), supported by the National Banking and Valuation Commission (CNBV), in order to know the details of this Including finance, economic competence and focus on strategic and priority sectors to decide which post or proposal to support.

The development of the map of regions, sectors and strategic rubrics that are supported by a public policy and regulation of Mayor Calado and rebate that only one institution can do, but it has a lot of emphasis on what it does of nationals, powders to support that the people, interests and compromises are more serious than those who tend to man extras.

Background revision

As for this, the pen would make a revision to see which entities (national and foreign) he paid the most dividends, what he re-invested more in the operations in Mexico (in the case of the extras) in order not to have a manicured vision by definition we live with a hypothesis that extranjeros only “toman profitability”.

Asimismo, es necesario conocer cuáles han gestionado mejor el riesgo, sobre todo en temas de ciberseguridad y fraudes; cuáles has a major customer satisfaction; quiènes han tenido más disposition to invest in important charters for the country as podrían ser the agricultural, industrial or maquilador sectors; cuáles apoyan más a las empresas medianas y pequeñas y no solo a los corporativos; caves he recorded the lines of credit in more aggressive ways to his client after the pandemic and caves he maintained his support.

It is also important to know that there are more exposures in the federal government credit facility, in the state and municipal government departments, as well as in those units, in addition to a series of indicators that are very relevant to them. A financial system that we want to keep, that we want to incentivize and to help the governing body in these moments to accelerate its crime by considering it ad hoc practice to blame crime with the financial sector.

The line follows… without embargo

In general terms, the posture of President Andrés Manuel López Obrador is synthesized in: “Que se mexicanice; who buys economic solvency to respond to customers; which has no fiscal adequacy with the SAT; that pays the taxes in Mexico and that the cultural fund of the bank is for the benefit and benefit of the Mexicans ”.

About his posture surging a series of interrogators:

  1. Que sean mexicanos. Banks that have not been linked to a matriarchy in the extranjero, because their shareholders are mostly calibrated extras? Acionist banks are concentrated in groups of Mexican families that can be filled, but is it more healthy? What is the history of the payment of dividends? What is his compromise with his family and with the institution that manages the resources of the people?
  2. Those who understand need to have economic solvency to respond to current and future customers. Economic solvency, in terms of terms of the financial group, the family group, the interested employer, the industrial group? We will not take the term together as an excerpt with recourse and crosses of an institution to another.
  3. What do not require tax credits with the SAT. Want to know if there is a group or financial institution that needs credit, but the cash advance to the offer, qualification. ¿De dónde sacaría los recursos para pagar los fiscal adeudos? Are you affected by the evaluation of your solvency at this point? If the debt does not pay off, there is no indication of a breach of compromise or solvency?
  4. What pays the taxes to the public. This point is for the situation where in the past the transaction of Banamex, for 12,000 million euros, was due to taxes to be paid in this year (and in many years) the most relevant transaction in Bolsax. Much depends on the shape and structure of the sale that determines the high-quality tax mark.
  5. The Banamex Cultural Artistic Foundation is for the benefit and benefit of the Mexicans and is not for the faint of heart as a private foundation. At this point the mandate has also been quite reiterative. Including the Mexican chancellor, Marcelo Ebrard, took part in the debate during the bill proposing that the Banamex Cultural Foundation make a national provision for its “preservation”. I believe that the proposal to maintain the artistic and cultural heritage and the acquisition that Citibanamex has made it is therefore known and reconciled and without any doubt requires a lot of attention and maintenance. Did you get the point 4 for this proposal?

In general terms, I would like to ask a question that is considered very important: If these students are forced to sell to the American authorities in this segment of the business, llevarían a tener a structural operational problem heredado y, in consequence, the revision of the authorities recreate in the new twin of the bank, which late or temporary powder is incapacitated or restricted in its operations with the United States?

Here are some questions. Can not be in disarray with the postmen presented by our mandate, nor tampoco with the sentencing that is about the sentencing of the financial system; my reflection is that we are making short work of the plant environment that takes place in terms of a public and economic policy that can be trained with this cohort to house a more fundamental transformation for the benefit of the people. Hoy en dia creo que surgirán más interrogantes.

* Deputy President of Political Regulatory Commission National Banking and Values.

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