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BBVA announces millionaire investment in Mexico and says it does not care about Trump

The president of the Spanish BBVA Group, Francisco González, announced today a million-dollar investment in the next five years in Mexico, a country in which the entity has "a lot of confidence", and Said he is not worried about Donald Trump's US government.

Mexico, March 2 (EFE) .- The president of the Spanish BBVA Group, Francisco González, announced today a million-dollar investment in the next five years in Mexico, a country in which the entity has "A lot of confidence," and said he was not worried about Donald Trump's US government. Mexican subsidiary of the group), business and the country, "said González in a joint appearance before the media with the Secretary of Finance and Public Credit, José Antonio Meade, as part of a visit to the country.

He detailed that BBVA has invested 3.5 billion dollars (3.332 billion euros) in recent years and expects to invest another "1,500 Million (€ 1,428 million) over the next four to five years. "

Meade considered the investment a" significant commitment "to Mexico's" largest bank ", the Country "in total assets of the banking system" and holder of "almost a fifth or more of the total loan portfolio".

In addition, the minister remarked that Bancomer has a Physical presence of "nearly 15 percent of bank branches, 14 percent of bank employees and 24 percent of all ATMs."

"From the point of view of Its capital, structure and financial strength this is an important and systemically relevant bank, "he said.

Gonzalez, who arrived in the Mexican capital Wednesday to meet Previously with members of Bancomer's Board of Directors as part of a visit that includes an appointment with the central bank governor, Agustín Carstens, recalled that the group Came to the country in 1995 and he personally visits it two or three times a year.

That is why he knows that Mexico has lived "good and not so good times" in the past, A vibrant nation with a huge fortress and 120 million young people ", fundamental for its progress.

The Mexican secretary pointed out that the BBVA group has Allowed its country to develop "communicating vessels with euro regions" and countries of the Pacific Alliance, made up of Mexico, Colombia, Peru and Chile.

"It has been two decades Fruitful for the bank and very fruitful for the country, "he stressed.

The Spanish banker acknowledged that in recent weeks in Mexico there have been" some Uncertainties "over political changes in the US, but considered that the negotiations stemming from Trump's demand to revise the North American Free Trade Agreement (NAFTA), which is also partner Canada, will reach "a good port."

"Extremes have little travel" in "the very dynamics of modern societies," argued Trump and Renegotiation of the NAFTA, which has been in force since 1994 and which the republican ruler considers "the worst in history" because of the alleged damages he has caused to his country.

"Within two or three years" Mexico will be much better than today. "

BBVA will remain in the country because it is a" long-term "investor, he added, before reiterating that he is not worried about Trump threats.

"I worry very little, we are in a world that looks forward to progress," he said. Powerful "and" the importance of Mexico for the United States is so great, not only in commerce, but also in security and other issues, "that the waters will return to their path, he added.

BBVA's perception of its operation in Mexico with Trump in power in the neighboring country not only "does not change", but considers the latter scenario "an opportunity."

Bancomer is the Mexico's largest bank in terms of portfolio and funding, with 18.2 million customers, 1,836 branches, 11,434 ATMs and 171.702 point-of-sale terminals

According to the group's latest earnings report in Madrid, by business area, in addition to Spain, BBVA gained 459 million euros in the United States (11.2% less); 599 million in Turkey (+ 25.6%); And the highest figure since 2010.

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