Banco Santander expansion in Mexico, Digi Mart USA News (Santander, Spain): Santander chair Ana Botín said the bank will expand its presence in Mexico and aims to double its number of clients and assets, according to a publisher report from Xpectro FM. The report states the institution wants to establish itself as a leading financial institution in Mexico and take advantage of its proximity to the United States.
Botín said the bank has set a goal to double its size in terms of clients, results and overall operations. She noted that Mexico is the only country in the region, and she hoped it would not remain the only one for long, where Santander holds two banking licenses.
As of the end of August, Santander ranked as Mexico’s second-largest bank by assets, with 2.1 trillion pesos, representing a 13.3 percent share of the sector. The report identifies BBVA as the country’s largest bank, with 3.6 trillion pesos in assets and a 22.1 percent market share.
According to the report, Santander’s assets exceed those of Banorte and Banamex combined, which together hold 3.1 trillion pesos, citing data from the National Banking and Securities Commission (CNBV). The report was not independently verified.
