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Payments General

BBVA announces USD 1.5 bln investment in Bancomer

Monday 6 March 2017 | 02:39 PM CET

BBVA has announced it will invest USD 1.5 billion over the next five years on software and intelligence to improve efficiency and bring it closer to customers.

The executive chairman of Spanish financial group BBVA announced the investment in BBVA Bancomer and confirmed at the same time the company’s confidence in Mexico.

BBVA also expressed interest in purchasing another bank, but was doubtful the financial services regulator would approve such a move.

BBVA representatives see improvement ahead in Mexico-US relations because the two economies are so closely intertwined.

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