We’ve done well, I hope they think the same as us. We have had very good chemistry, and we have done many things for the country”.
Marcos Ramírez, CEO of Banorte.
So far in the current administration headed by President Andrés Manuel López Obrador, a cordial relationship has been shown between him and Banorte.
While the financial institution has backed the government’s actions; The Chief Executive has made allusions such as remembering that it was this bank that opened an account for him when others closed it, before he became president; at the time he was leading his political movement. In addition, he has mentioned Banorte as one of the possible buyers of Banamex, and expressed his wish that, after its sale, this bank would once again be in the hands of Mexicans.
In this regard, Marcos Ramírez Miguel, CEO of Banorte, comments that the bank’s relationship with the president has been good.
“It has gone well for us, I hope they think the same as us. We have had very good chemistry, and we have done many things for the country, ”she says.
In an interview, he details, for example, that they are involved in the dispersion of resources from social programs, which, he says, is all engineering to do.
“I am happy to tell you that I think they are happy with us and we with them, and all the commitments that the resident made with us, he has fulfilled and we with him,” he stresses.
He adds: “so I have nothing more to say than to continue fulfilling commitments from both sides and to continue moving the country forward.”
The financial system will be reconfigured
Regarding the announcement of the sale of Banamex made at the beginning of the year by Citigroup, and Banorte being one of those that has been considered as a potential buyer, its CEO considers that, regardless of who acquires it, the financial system will be reconfigured Mexican, but it will not be the first nor the last time that this happens.
He comments that today the map of the banking system is very different from that of 10 or 20 years ago, and that it will surely change again in the coming years.
As an example, he mentions that when there were 18 banks in Mexico, Banorte was number 17, and today with 50 institutions of this type, it is the second most important in the system.
“What is going to happen here? Will it reconfigure? yes Is there going to be a new foreigner? It may be. Does a foreigner buy it? Will any Mexican be able to buy it? yes what’s next? another round and another round,” she argues.
He adds: “(there will be) banks that make a mistake in their strategy and they may not go bankrupt but they may do poorly and lose market, surely; others who do it correctly and do better, surely. So the father of this is that everything is going to happen and it is going to be reconfigured, but once again.
We will wait for the information to flow
Regarding whether Banorte is already analyzing the option of participating in the Banamex purchase process, Marcos Ramírez points out that the bank’s position has not changed compared to a few weeks ago, and it will be once there is information, when they see it.
“The process does not depend on us. When the information begins to flow and we see the information and we see what it is about –at the moment we don’t know–, then we are going to analyze whether we go ahead or not, and I understand that we are natural candidates, but we have nothing. Let’s wait for the information to flow. It will be many months before we answer if we are interested or not”, emphasizes the banker.