The president of Mexico City, Claudia Sheinbaum, announced that Santander will invest around 42 billion pesos (2 billion dollars) in Mexico, according to Ana Botín, the president of the banking group, on February 18. This investment will be allocated both to the institution itself and to its digital bank, Openbank.
Openbank is a digital bank parallel to Santander, offering a differentiated service for customers and providing the advantage of being able to use Santander's 10,000 ATMs. Ana Botín emphasized the importance of the announced investment, highlighting the solvency of Santander, one of the highest-rated banks in the world.
In an interview with El Financiero TV, Ana Botín indicated that this investment in Mexico until 2025 is one of the largest made by Santander in the country in the last decade. She noted that Mexico is one of the countries where they are investing the most, both in absolute terms and relative to other global investments of Santander.
The president of Santander expressed the desire to provide the best customer experience and to position themselves as number one in Mexico, following the success achieved in Spain with Openbank. She believes that there is a large market for the growth of digital banks in Mexico, as most young people have smartphones, although a significant percentage still does not belong to the banking system.
Regarding the threat of potential tariffs from Donald Trump, Ana Botín stated that, despite the uncertainty, they have plans to invest more in Mexico than they have in recent years. She highlighted the ongoing interest in the country despite this uncertainty and praised the budgetary policies and support for investment promoted by the administration of president Claudia Sheinbaum.
