Grow and maximize its value: the plan of Banamex
Banamex's CEO outlines strategies to increase market value and reclaim leadership in the banking sector following the sale of a 49% stake.
Banamex has set a primary objective for this year to increase its market value and regain its share in the banking system, aiming to become a leader in the sector. After selling 49% of its shares, CEO Manuel Romo emphasized the need for a clear strategy focused on customer service, deep technological transformation, increased willingness to extend credit to businesses of all sizes, and a return to markets where Banamex is currently not active.
During a meeting with the media at the 89th Banking Convention, Romo outlined that the bank expects nearly all their products to grow at a double-digit rate. However, he also stressed the importance of maintaining a high-quality portfolio as Banamex operates with borrowed funds. The focus on responsible lending is crucial, as they aim not only to grow but also to manage risk effectively while expanding their services.
Romo attributed the confidence in their ambitious plans to the recent sale to Mexican businessman Fernando Chico Pardo, who currently serves as the president of Banamex. This leadership change is seen as pivotal for Banamex, as it embarks on an important phase of revitalization and seeks to reshape its role in Mexico's banking landscape, especially after the strategic shift in ownership.