Inbursa and Banco Azteca, the pros and cons to acquire Banamex
Lastcotes Last CotizationsnasDaq13,770.57+3.13%IBOVESPA111,910.10-0.62%S&P/BMV IPC50,661.86+0.39%BTC/USD37,024.92-1.93%
Ciudad de México — La venta de activos de Banamex por parte del gigante financiero Citigroup contemplaría otros factores particulares que no necesariamente pueden beneficiar al Grupo Financiero Inbursa, de Carlos Slim, y a Banco Azteca, de Ricardo Salinas Pliego.
The franchise has 1.2778 branches, 31.406 employees, 9.000 ATMs and a gain greater than US $ 2.000 million.However, the positioning shown by the brand and the type of segment for sale is not necessarily of interest to both institutions, although both banks, through their managers, expressed their interest in analyzing the possible participation.
PUBLICIDADThe director of Relationship with Investors of Inbursa, Frank Aguado, mentioned on January 26 at conference with analysts who would be interested in participating in the purchase of Banamex assets, only if they have favorable conditions.
"But it is not clear that they are selling and what the process will be like.We will be waiting to see how it happens and what they try to sell ”.
Inbursa has a MXN $ 28 total consumer credit portfolio.538 millones, de acuerdo con el último reporte emitido por la Comisión Nacional Bancaria y de Valores (CNBV).The credit card segment showed a 13.83% decrease in November 2020 at the same period last year;While personal credits contracted 47.68%.
PUBLICIDAD
The strategist said that if the objective of Carlos Slim's financial segment were to position the brand, he would have begun to develop previously.However, the business would attract the attention of a player who has increased his participation: Banco Azteca, by Ricardo Salinas Pliego.
En solo un año, el segmento de consumo, principalmente de tarjetas de crédito presentó un incremento de 404,19% al pasar de $1.048 million in November 2020 to $ 5.284 million in the same period last year.In the case of personal credits, they showed an increase of 11.19%, according to the latest CNBV report.
The businessman also owns the second most important television station in the country, the intention of acquiring Banamex assets reported through his Twitter account.For Vera, the news would favor your business that you have sought to position your brand.
PUBLICIDADWant to know how to get the must out of a soul strong Yoga Membership?Over The Next Few Weeks, We'll Be Walking Yo ... https: // t.CO/BXC7NoSKSA5
— Soul Strong Yoga Tue Jul 21 00:00:32 +0000 2020
However, there is a bigger obstacle that would take it away from the possibility: the Elektra group debt with the treasury for an amount of $ 2.636 million.
"According to your accounting, if you pay the taxes that owe to the SAT, you fail to buy the franchise".
El 11 de enero, Citigroup anunció la venta de las áreas de consumo y de empresas de Banamex, además de la franquicia de Banco Nacional de México como parte de una estrategia global que busca enfocarse en carteras de mayor valor en los países donde tiene actividades.
PUBLICIDADThe CEO, Jane Fraser, announced that it will be next spring when the process starts. Al respecto, bancos como HSBC y Banorte también han dado a conocer su interés por analizar la operación.
See more: Banorte would need three months to analyze if he is interested in buying Citibanamex
Banamex is the third largest bank in Mexico for total assets.The sale of the business would be made by the total;However, the main factor that slows the possibility of all interested parties is business concentration, a situation that reduces market competitiveness.
PUBLICIDADIn case of being acquired by Inbursa, its market share would amount to 15.29%, in the case of Banco Azteca it would rise to 13.73%, in both cases, any of the financial institutions would be placed as the third largest bankAfter BBVA Mexico and Santander.
It may interest you:
By iclothingfashion
