Mopping up

Mopping up

Bonds Structured Finance Mexico M&A

by Ivan Castaño Mexico’s midsize banks Banregio, Ban Bajio, Banco Multiva and Afirme could engage in M&A activity in the near to medium term as some of the country’s banks struggle under shrinking profit margins and rising competition. The merger between Banorte and Ixe created Mexico’s third largest bank last year and may have marked the last such acquisition of this scale in the country’s banking sector for quite some time, but some consolidation among smaller mid-tier names is still likely.  The four banks could be interested in merging among themselves or at least buying a stake or fully acquiring one of many beleaguered non-banking financial institutions known as Sofoles an

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