The ABM pointed out that Banamex currently holds a 12% market share, and that this figure may increase with greater competition.
“More than the reconfiguration of the financial system, Banamex can recover market share, unless Citi decides to sell in parts,” Daniel Becker said in a meeting with the media on Wednesday afternoon.
The leader of the bankers is also a director of Banca Mifel, which is, together with Grupo México, one of the finalists to acquire Citi’s assets in Mexico.
The sale of the assets does not mean that Citigroup is leaving Mexico. The US bank will maintain its wealth banking business, that is, with large companies.
The bank wants to take advantage of the trend of nearshoring either friendshoringwhich consists of companies setting up production plants in countries close to those they want to reach, mainly the United States.
To launch this business, the bank is still waiting for the authorization of its license from the National Banking and Securities Commission (CNBV), which is expected to occur in the coming months, there has even been talk of the possibility of buy from another bank in order to have permission.
Outlook 2023
Becker said that banks in the country may face an economic slowdown next year, which threatens to reduce credit placement.
The placement of financing responds more to the dynamism of economic growth than to the increase in interest rates, he commented.
