The bank has said that the behavior of credit goes hand in hand with the growth of the economy and after a contraction in the productive sector, the banks barely had a recovery of 4.6% last year.
“One of the explanations is that we have not yet recovered the level of Gross Domestic Product that we had two years ago and therefore the capacity is still insufficient,” said Thomas Ehrenberg.
For Bx+ there is still hope, since Mexico has a great potential for economic growth thanks to its geographical location and the leader of Bx+ considered that it can take advantage of China in exports to the north of the continent.
“We should have the ability to replace China and be the number one exporter to the United States; the value chain generates a very important economic potential for us”, added the manager.
But how do you win over China in exports? Ehrenberg explained that the first thing must be to guarantee the Rule of Law so that there are safe investments and the second thing is to have the capacity to transport goods with agility.
Interested in Banamex?
Bx+ wants to consolidate its growth this year, although it will not be by buying Banamex. After almost 20 years of existence, the financial group said it is still interested in making acquisitions in the coming months, as happened in 2016 when it bought Multiva insurance and in 2017 when it acquired Bankaool.
“We are interested in growing organically and also inorganically. We are seeing a couple of operations, but out of every 20 operations that you see, sometimes there is only one and that is how the acquisition market is, “said the manager.
Asked if he would be interested in buying Banamex, Ehremberg said that Bx+ will always be interested because he hopes the bank will return to the hands of Mexican shareholders. However, he anticipates a complicated process.
“Bx+ has a very small dimension relative to Banamex, so as a bank we would not be in those leagues. Go for More as a financial group is currently not interested, I would love to but it is not enough for me, ”he said.
