BBVA Bancomer Mexico Triumphs Over Other Banking Institutions
Banks in Mexico reported record profits of 222.657 billion pesos, driven primarily by high interest rates and strong performance in credit issuance, particularly for consumer and business loans. Over the administration of Andrés Manuel López Obrador, cumulative bank profits have reached 1.178 trillion pesos, a 68% increase compared to the previous administration.
Among the leading institutions, BBVA Mexico stood out, generating over 70 billion pesos in profits, followed by Banorte and Santander.
BBVA has invested heavily in its digital infrastructure, enhancing customer experience and operational efficiency. It led the market in consumer and business credit, fueled by strong demand for personal loans, credit cards, and business financing—sectors that showed robust growth throughout the year.
High interest rates in Mexico benefited BBVA, allowing it to achieve higher interest income. Its strategic focus on deposit acquisition and loan placement in this environment resulted in increased financial margins.
BBVA is one of the most trusted and prominent banking institutions in the Mexican market, giving it a competitive edge in attracting and retaining customers.
These factors combined enabled BBVA to exceed 70 billion pesos in profits by the close of the third quarter, cementing its position as the leader of Mexico's financial system.
A Legacy of Over 90 Years in Mexico
BBVA Bancomer boasts a history of more than 90 years in Mexico, marked by mergers, expansion, and technological modernization:
1932: Established as Banco de Comercio (Bancomer), one of Mexico’s first modern banks, it played a key role in financing infrastructure projects and driving economic development.
1950s-60s: Bancomer experienced significant growth, establishing a robust branch network nationwide and solidifying its position as a leader in Mexico’s financial system.
1982: During the economic crisis, the Mexican government nationalized the banking system, including Bancomer.
1991: The reprivatization process began, with Bancomer acquired by a group of private investors, marking its return to the private sector and a new era of modernization.
2000: Acquired by Spain’s Banco Bilbao Vizcaya Argentaria (BBVA), Bancomer became BBVA Bancomer, one of the first major international acquisitions in Mexico’s financial sector. This integration brought modern banking technologies and practices, advancing its leadership in digital and commercial banking.
2019: BBVA unified its global brand, adopting the name BBVA Mexico, retiring the Bancomer name while maintaining its commitment to Mexico’s financial and economic development.
BBVA Mexico continues to lead the banking sector’s digital transformation, offering mobile banking services and process digitalization, positioning itself as one of the country’s most innovative and profitable banks.
Strong Presence in Puerto Vallarta
BBVA Bancomer is among the most popular banking institutions in Puerto Vallarta, thanks to its extensive presence and customer service. The city hosts numerous branches and ATMs in strategic locations such as the Malecón, Marina Vallarta, Plaza Caracol, and shopping centers like Liverpool Galerías Vallarta and Walmart Macroplaza.
Its presence in high-traffic tourist and commercial areas ensures easy access for residents and visitors alike, contributing to its popularity. BBVA’s ability to provide comprehensive banking services, including digital banking and financial support, strengthens its connection with local users and tourists.
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