After purchase of Banamex Banks they would give 'Mega Brinco'

If Banorte is the one who finally acquires it to the number one of the portfolio ranking when reaching a value of $ 1 billion 348,229 million pesos.

Banks interested in acquiring Banamex could give a "mega jump", by adding greater value to their wallets and climbing positions in the ranking on this subject.

According to a BBVA analysis called "announcement of sale Citibanamex" it is explained what is the current situation that each institution reports and what would happen if Banamex buys.

"(They are) the figures for the possible fusion in each of the institutions with the greatest possibility of acquisition," explains the firm in its report.

Although today, who taps this ranking is BBVA with $ 1 billion 286, 624 million pesos, with a possible fusion, there are others that could unseat it.

For example, if Banorte is the one who finally acquires Banamex, said company would climb to the number one of the portfolio ranking with a value of $ 1 billion 348,229 million pesos.

Santander would position himself secondly, because with the merger with Banamex he would reach $ 1 billion 255,273 million pesos.

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Taking into account their current position these two institutions would then pass from position two to one, and from three to two.

Another relevant case is the Azteca Bank that although it currently occupies the 10th place of the portfolio ranking, if Banamex acquires, this merger will allow you to place itself at the 4th 4th site with a total of $ 650,757 million pesos.

It was last Tuesday when it was announced that the brand, license and all the retail and business business of Banamex was for sale, after the group released Citi's departure from retail banking operations in Mexico.

The operation includes payroll wallets;consumption as credit cards;mortgages;The Branch Network, Afore, Insurance and Historical Real Estate.

Jane Fraser, Executive Director of Citi, explained that the decision to get out of consumer banking and business banking businesses is completely aligned to the principles of the new strategic vision of the Financial Group.

"It will allow us to assign resources to opportunities aligned with the main CITI strengths, as well as to our competitive advantages, and we can focus on businesses that benefit from the connection with our global network.In turn, it will allow us to simplify our bank further, "he said

For now, in an Actinver analysis he informed that Banorte is one of the most likely candidates to acquire both businesses, since the station is accustomed to great acquisitions.

"Santander and Scotiabank are also strong candidates for acquisition for reasons similar to those of Banorte," said analysts.They added that in the case of Grupo Elektra, it makes sense.