Mexican bankers to work alongside any presidential victor in 2018 elections

A few hours before the opening of the 80th edition of the Banking Convention held in Acapulco, Mexico’s bankers assure that they are willing to work alongside any presidential victor of the 2018 Mexican run for presidency. In an interview with EL UNIVERSAL, members of the Mexican Bank Association (ABM) noted that there are no signs of fear or worry on their part, should MORENA’s candidate, Andrés Manuel López Obrador, win.

“The Mexican banking system is willing to work with whoever wins the presidential seat, as long as there is respect for government institutions. We are sometimes tempted to say that populism is the same as López Obrador and this is not true, populism can stem from the right or the left, it can also be nationalist or xenophobic.” said Luis Robles Miaja, president of the Mexican Bank Association (ABM).

“It is imperative to promote the consolidation of nation’s model and to have key players commit to this model. This is essential. To have committed victors with the model of nation regardless of party.”, said Director General of CitiBanamex, Ernesto Torres Cantú in reference to the implementation of reforms and present macroeconomic stability in the country.

For his part, Director General of BBVA Bancomer, Eduardo Osuna, said that a change in politics will be negative should it go against the growth of the country and its institutions: “Bancomer intends to stay here for a long period and we will witness many changes in government. We must have to learn to live with this, as there are many countries where the change of government is common.”

President of the Board of Santander Financial Group, Marcos Martínez, said that regardless of political trends the banking system has a key role in the economic development which will prevail: “In any system, regardless of its president profile, there is a financial system. The new president will certainly have a vision of the country he wants and the role the banking system will play in such vision to which we will respond accordingly.” he noted.For

Alejandro Valenzuela, Director General of Banco Azteca, the key is to have a solid legal framework that prevents excesses from any victor of the elections: “Mexico is heading towards important elections and I’m fully confident that the Mexican people has matured in the right direction and that it will choose for the good of the country, but we still have to consolidate government institutions to prevent any form of excess from happening. Weights and counterweights are key in any presidential or political conversation. We have nothing to fear as long as we hold both.”

Nuno Matos, Director General of HSBC Mexico,said that the firm is present in 71 countries, where emerging markets and uncertainty periods take place, “We will engage in banking regardless of the circumstances, as we are convinced of the strength of Mexican institutions, we are not worried. There will be certainly be some volatility and uncertainty as a result of the upcoming election, as it happens in elections worldwide.”

“We will work alongside any victor, we will have to adapt to the circumstances.”, said Marcos Ramírez, Director General of Banorte Financial Group.