The Mexican president, Andrés Manuel López Obrador, withdrew this Thursday the government’s interest in buying the Mexican National Bank (Banamex) to the american CitiGroupbut asked the next Administration to consider the acquisition.
The president attributed the decision not to acquire the bank, after the failure of the sale to the private sector last May, to the fact that his term is about to end in 2024, when he can no longer be re-elected but a possible triumph of someone from his party is expected. , he National Regeneration Movement (Morena).
We can no longer, speaking honestly and responsibly, we can no longer with time. However, a The new government could do it and it wouldn’t be a bad deal.”,
he declared in his daily press conference.
This must not be ruled out, a government that is starting, for example, has time. Imagine how much the government manages in the banks and you have to pay commissions and then you also pay taxes in the banks ”,
deepened
His statements come after reports from the international press that his government gave up last July from acquiring at least a portion of the shares of Banamexconsidered one of the most important banks in the country.
After the failure of negotiations between Citigroup and the Mexican tycoon German Larrea Last May, the president had expressed his interest in allocating up to 3 billion dollars from the Government to acquire 50% of Banamex and create a large state bank.
At first we did have an interest in doing so because we considered it important to have a government bank, a bank to manage all the funds, government accounts, and save us from paying commissions”,
The president now pointed out.
the sale of CitiBanamex It aroused interest since its announcement in January 2022 because it is the third largest bank in Mexico with 12.9% of deposits and the second in credit cards, according to data from the Moody’s agency.
The operation included commercial and retail banking, with more than 1,200 Banamex branches, its 23 million clients and the collection of artistic heritage, something that López Obrador hoped would remain in Mexican hands.
But the process became complicated after the main contenders abandoned the purchase, including Spain’s Santander bank, Mexico’s Banorte, tycoon Carlos Slim’s Grupo Inbursa and, lastly, Larrea of the Grupo México conglomerate.
Despite the failed negotiations, López Obrador now highlighted that the bank obtained benefits of 20,000 million pesos (about 1,176 million dollars) in 2022, which shows the strength of the Mexican banking system.
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