“Whoever buys Banamex will be an important participant, because Banamex is an important bank.” She said it Carlos Lopez-Moctezumadirector general of BanCoppel, dismissing the versions that place that institution as one of the interested in taking over the business left by Citibank in Mexico.
López-Moctezuma speaks of a business strategy that points in another direction: the mass market.
BanCoppel’s idea, based on an investment of more than one billion pesos, is to offer more and better financial services to a huge potential market of Mexicans who are not yet integrated into the formal banking system.
In parallel, the bank’s CEO talks about making greater efforts to strengthen digitization and launch new products.
In an interview with El Universal, López Moctezuma said that the sale of Banamex “opens up opportunities for others”, since “the space left by Citi will be taken by whoever buys Banamex or by one of the current competitions”.
He says that the important thing is that “we all have the chance to participate and compete, and attract customers.”
Banamex is not in Coppel’s objectives
Finally, and always regarding the sale of CitiBanamex, the businessman told El Universal: “We wish the best of luck to those who acquire it, it will be an important participant since Banamex is an important bank”.
And he stressed: “It is not one of our objectives today.”
In relation to Coppel’s intentions in the short term, López-Moctezuma said that they are targeting the “Mexican mass market”, where he said 70 percent of the country’s inhabitants are.
“Many are not at the top of the pyramid, but there is a lot of potential to cContinue growing and serving the majority with truly world-class products”, he added.
Regarding the progress of digital transactions in the banking context, who also works as Head of Financial Services of the Coppel Group, assures that they have detected a significant increase and that they will advance in this direction despite the fact that the Coppel model is very successful in the physical banking area.
The bank that will compete for Banamex is Santander.
In February, its president, Ana Botín, said that they hope to compete for the acquisition. “Mexico is one of our main markets. And we hope to be part of that process when it begins, which is expected to be in a few months,” Botín said last February.
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