Although Banorte, owned by the Hank family, and the Spanish bank Santander could be the leaders in the bets, other institutions such as Carlos Slim’s Inbursa are also among the candidates to buy Banamex.
Inbursa could benefit from Citibanamex’s deposit base, like Banorte, but Moody’s sees it as difficult for Inbursa to provide complementary services because it is more focused on serving medium and large companies.
Although the report also includes Banco Azteca as one of the possible buyers, in previous weeks Ricardo Salinas Pliego, owner of the bank, said that he was no longer interested in buying Banamex instead I would invest in the bank.
“It takes too much time and investment, and then you have to fix your operation and invest in technology,” he said on his Twitter account.
Moody’s pointed out in its report that if the bank were to remain interested in the purchase, it would face a problem with clients who have greater resources in Citibanamex.
“Azteca would have difficulty attracting Citibanamex’s clients with greater resources,” he details.
Both consult with foreigners
So much Santander and Banorte have turned to foreign banks to analyze the conditions of the purchase of Banamex.
Santander hired Credit Suisse Group and Goldman Sachs while Banorte went with Bank of America, according to Reuters reports.
