Firm, Banamex's bet on Mexico, says Manuel Romo
Manuel Romo, CEO of Banamex, discusses the bank's strategy to regain its competitive edge in Mexico following Citi's divestment process.
Manuel Romo, the General Director of Banamex, shared insights into the bank's future strategy in an interview with El Financiero, emphasizing their commitment to enhancing competitiveness in the Mexican banking sector following Citi's divestment. Romo outlined four foundational pillars driving their strategy: accelerating digital transformation, delivering excellent customer experiences, increasing credit placements, and re-establishing presence in currently underserved markets.
He highlighted that the recent acquisition of 24 percent of Banamex by various institutional investors and family offices signifies growing confidence in the bank's direction. With Fernando Chico Pardo leading as a key shareholder holding 25 percent, the influx of capital from esteemed institutional investors is seen as a reassurance of Banamex's potential for growth.
Romo expressed optimism about the bank's growth trajectory, indicating that the received investments motivate Banamex to expand at or above competitive rates in the upcoming years, positioning it well within the dynamic landscape of the Mexican banking system.