Although no decision has been made yet, HSBC México does not rule out analyzing whether or not it participates in the purchase process of Banamex, whose sale would start in the spring, as reported a few days ago by the global director of Citigroup, Jane Fraser.
Jorge Arce, president and CEO of HSBC México, explained that in this bank they are looking at the possibility of participating in said process, but that no decision has yet been made, since it is a recent announcement.
“I’m not saying yes or no, just that, given the size and importance, you always have to keep your eyes open,” he said.
In a videoconference, Arce explained that they know the operation well, they have the numbers and they know what it is worth and what an opportunity like this represents, “but we have not seriously analyzed this; we have not made any decision; The process hasn’t started yet, it starts in the spring, but it’s a great opportunity for anyone who makes the decision to buy it.”
He pointed out that since HSBC they are seeing if it would be strategic for the bank, and he considered that there is no banker in Mexico who is not thinking about how much it is worth Banamex and how it could be integrated.
We are doing numbers and everyone is thinking and working and seeing opportunities. That doesn’t mean anything out of the ordinary; each one is going to assign a different value to it, depending on who the potential buyer is,” he said.
Great opportunity for any bank
Jorge Arce, who was also recently appointed chairman of the board of directors of HSBC México, highlighted that Banamex it is a very valuable franchise, so it is a great opportunity for any bank or investor to try to analyze the opportunity and buy it, merge it or whatever is allowed.
“It is a bank that has been in existence for more than 150 years; it has had several owners, it is a very important franchise for the country; It has many clients and a lot of value. Anyone who buys it will realize a value, will invest in the country in the long term”, he emphasized.
He added: “it has a great team, some super clients, a great name, it has a lot of value for Mexico Banamex”.
We are in the process of investment growth
The president and director of HSBC México mentioned that the bank’s strategy is to focus on strengthening the Customer experience, especially from the digital side, for which heavy investments will continue.
He announced that although there is not yet a precise amount, this year more than 100 million dollars will be invested, both in the digital and physical part.
He also mentioned that they will continue to grow in wholesale, business and corporate banking.
“We are investing in all our businesses; we are making improvements to our physical infrastructure of the branches. We are in a process of investment growth,” he said.
Jorge Arce explained that Mexico offers many opportunities for a global bank like HSBC. “It is a country fully integrated into global production chains, fully integrated into international trade, and it is where HSBC operates best.”
kg
