BBVA to invest $1.5 billion in Bancomer

Source: BBVA

BBVA Executive Chairman Francisco González expressed his commitment to Mexico during his visit to Mexico City, announcing new investments to move forward the transformation process at BBVA Bancomer.

“We are going to invest $1.5 billion,” he said, following a meeting with Mexican Minister of Finance and Public Credit, José Antonio Meade. The 5-year investment plan will help BBVA Bancomer to leverage technology and develop solutions for its customers.

Francisco González expressed his confidence in Mexico.”We are long-term investors and I hope we get more opportunities to continue to invest. I have always believed in this country, we have had good moments, not so good ones too, but Mexico is here, always solid. We have an enormous confidence in Mexico, in BBVA Bancomer, in our team and the Mexican business community.”

We are long-term investors and I hope we get more opportunities to continue to invest

Francisco González said that North America is one of the most economically competitive areas in the world. “It is one of the most attractive regions in the world for investments, with a young population. And Mexico is a vibrant country with great strengths. Its 120 million people are very young and fully motivated to do great things. Mexico is stronger than most people think, thanks to its population, its close relationship with the U.S., the dynamics of its industries and its business community. We are really pleased to be here,” said the BBVA Executive Chairman.

As for the relations between Mexico and the U.S., the BBVA Executive Chairman said that these “two economies are extremely intertwined, with more than $500 billion in trade”. Francisco González is convinced that, with time, this will be a great opportunity for Mexico. “In two to three years this country will be much better than it is today,” he added.

In two to three years this country will be much better than it is today

Mexican Minister of Finance and Public Credit, José Antonio Meade took the opportunity to thank the BBVA Executive Chairman announcement and said that Francisco González was a great friend of Mexico. “This is an important visit because today we have here with us the Chairman of Mexico’s most important bank. Given its capital position, its infrastructure and its financial strength, (BBVA Bancomer) is an important and systemically relevant bank,” he said.
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