The banker mentioned the importance of closing doors to China and other exports from Asia in order to remain within the North American bloc. He highlighted the need to develop an industry that replaces those imports, as part of the Mexico Plan and the government agenda. He pointed out that it is beneficial for the three countries to continue working together and expressed Santander's intention to keep growing in Mexico.
Regarding its assets, Santander positions itself as the second most important bank in the country by the end of 2024, with a 13.79% share in the system. For the next three years, the planned investment is two billion dollars as part of the growth program, given that Mexico is one of the countries contributing the most to the group’s international performance.
Despite the uncertainty due to U.S. trade policies and other internal challenges, Mexico is expected to integrate with North America and benefit in the long term thanks to the USMCA. The general manager of Santander Mexico assured that the trade agreement with the United States and Canada will serve as a shield against possible trade crises.
The arrival of new players in the banking system, especially digital ones like Open Bank, is recognized, which could benefit Mexico in the future. Despite the challenges, there is optimism about the country's growth potential and a commitment to economic integration with North America.
In this context, the importance of involving both the public and private sectors to ensure the success of the Mexico Plan is emphasized, which aims to encourage growth and investment in the country. The banking sector also plays a fundamental role in Mexico’s development, channeling resources and savings to boost economic growth and support SMEs.
Santander commits to working together with the Federal Government on initiatives such as public-private partnerships, financing for energy, water, and infrastructure, as well as supporting small and medium-sized enterprises. The financial group's credit portfolio showed an annual increase of 3.3% and it is expected to continue growing in an orderly manner in Mexico.
Amidst the competition, the importance of providing quality customer service, as well as a wide and varied offering of financial services, is emphasized. Despite the current circumstances, there is confidence that economic integration will continue to advance for the benefit of Mexico and the region.
