We are in a capitalization process to continue with the plans: Banco Autofin

Banco Autofin is in a new capitalization process to be able to continue with its growth and materialize its plans, assures the general director of the institution, Carlos Septién Michel.

In an interview, he affirms that the bank –belonging to the Autofin Group– is doing well and strengthening, and comments that they have corrected some situations that no longer made sense to the entity, such as getting out of the mortgage business and granting loans to large companies, this, with the aim of focusing more on small and medium-sized companies (SMEs) and on its flagship portfolio: the automotive industry.

We are strengthening ourselves a lot, and on the other hand we are also in a capitalization process, we are looking for a partner to be able to continue, grow and carry out our plans; a partner that can give us some kind of competitive advantage,” he says.

He adds: “it is part of a natural process of evolution of the bank, which is why we feel that we are in a good moment”.

Septién Michel stresses that this is the best time to look for a partner that will allow the institution to continue growing and strengthening itself and comments that there are a couple of groups interested in injecting capital into the bank, so there will be information shortly.

It stands out that this capitalization process that they are in does not imply that the bank is in any risk situation. “This capitalization process makes us want to grow faster.”

He explains that the decrease in the total portfolio, which went from 3.7 billion pesos in March 2022 to 2.8 billion in January, is due to the sale of those related to mortgages and large companies.

eduardo.juarez@eleconomista.mx