General Director of Banorte confirmed that they will analyze the purchase of Banamex

The CEO of Banorte Financial Group, Marcos Ramírez Miguel, via videoconference, assured that they will analyze the possibility of purchase the wallets of Citibanamex who had announced to sell Citi Group, although he stressed that it is not a priority at the moment.

“We must analyze, we cannot yet say that we are interested in participating in this process, it would be irresponsible, we are going to start the analysis, it is internal, and we are going to start little by little”.

Ramírez Miguel made it clear that they do not intend to cover most of the financial system, but instead seek to be the best, so they will have to consult with the board and investors waiting for what they decide.

Marcos Ramírez Miguel, General Director of Grupo Financiero Banorte

“We have an appetite, yes. We believe in Mexico, yes. We are a bank that wants to grow organically or inorganically, but it does not depend on us, it depends on market conditions, nor on business management, us, the task is to see the opportunities and pass them on to the board and investors and for them to decide whether It’s a good investment.”

The manager stressed that they will do an analysis and if they see an area of ​​opportunity in the transaction they will share it with the public.

“As part of our responsibility, we will be initiating an analysis of this opportunity, and if we find that a possible transaction adds value to our shareholders, we would comment on it to our shareholders at the time and we would make it known at the time. We do not have a thesis of contestation, we are going to start working for a strong Mexico, we have the right to want to be the best in the market”.

Banorte Branch


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