Bancomer is the largest
bank in Mexico in terms of assets and its significant merger
process is behind it: Bancomer, Probursa, BBVA Mexico and
Promex are now all operating seamlessly under the Bancomer
brand name, three months ahead of schedule.
Says head of investor relations David
Sánchez-Tembleque, "We are one step ahead. We have
changed the image of all of our branches, we have closed
redundant branches, we are operating under one systems platform
across all of our businesses. And we have gone through this
process without any loss of market share."
For Bancomer's banking business, that market share is 30%,
compared to a combined level of 26% for Citigroup and Banacci,
and 14% for Santander and Serfín.
Bancomer, owned since early last year by Spain's Banco
Bilbao Vizcaya Argentaria (BBVA), has seen an enormous
improvement in profitability over the past year....
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