Talk:Grupo Financiero Banamex

Research needs

Could someone try to dig out the following in (US$ equivalents): 1. How much was paid for Banamex originally in 1991. 2. Amounts and dates of the three portfolio sales to Fobaproa done by Banamex between 1995-1997.

These amounts should be included in the article. Furthermore, this data would serve to show that Roberto Hernandez and Alfredo Harp did a pretty good business when they sold Banamex to Citigroup. I remember back then that Sergio Sarmiento, the Reforma columnist wrote at the time that "contrary to popular belief" the owners had actually lost money, or something like that. This is hogwash. I did the calculation once and the shareholders had a decent Internal Rate of Return.

This not to even mention the lack of Income Taxes on the sale to Citibank, nor the fact that the rest of Mexicans got stuck with the bill.

I work for a bulge bracket investment bank in New York and I was absolutely incensed by this whole thing. I remember talking to a couple of equity analysts following Mexican banks and they all agreed that this was the robbery of the century.

Obviously, the caveat to what I just wrote, is that no new money would have come into the system if the portfolio sales to Fobaproa hadn't been done, and the financial system would probably still not be totally out of the water. To counter this, however, I can't think of any instance internationally in which a bank rescue included rescuing shareholders and not just the banks (and there are examples like the savings and loan crisis in the United States in the late 80s, or the Credit Lyonnais rescue in France. Typically you rescue the bank but let shareholders get wiped out, which makes sense since it was largely shareholders actions that caused the problem in the first place.

Statistics

Moved to talk because needs formatting and references, also can't tell when the information was referring to. RJFJR (talk) 16:58, 2 December 2012 (UTC)

Banco Nacional de Mexico (Bank):

• 1,700 Branches
• 28,759 Branch Employees
• 4,492 ATMs
• 7.9 million Credit Cards
• 2.6 million Checking Accounts
• 20.52% of the Assets in the Mexican Banking System

Seguros Banamex (Insurance):

• 5th Place among Mexican Insurers

Afore Banamex (Pension Funds):

• 1st in Pension Funds
• Over 4 million strong in affiliates

Accival - Acciones y Valores de México (Brokerage House):

• Top Brokerage of the country
• 16% of the assets

Grupo Financiero Banamex has presence in the main towns and cities of all the states of Mexico.

External links modified

Hello fellow Wikipedians,

I have just modified one external link on Grupo Financiero Banamex. Please take a moment to review my edit. If you have any questions, or need the bot to ignore the links, or the page altogether, please visit this simple FaQ for additional information. I made the following changes:

• Added archive https://web.archive.org/web/20140322141552/https://www.compromisosocialbanamex.com.mx/fs to https://www.compromisosocialbanamex.com.mx/fs

When you have finished reviewing my changes, you may follow the instructions on the template below to fix any issues with the URLs.

This message was posted before February 2018. After February 2018, "External links modified" talk page sections are no longer generated or monitored by InternetArchiveBot. No special action is required regarding these talk page notices, other than regular verification using the archive tool instructions below. Editors have permission to delete these "External links modified" talk page sections if they want to de-clutter talk pages, but see the RfC before doing mass systematic removals. This message is updated dynamically through the template {{source check}} (last update: 18 January 2022).

• If you have discovered URLs which were erroneously considered dead by the bot, you can report them with this tool.
• If you found an error with any archives or the URLs themselves, you can fix them with this tool.

Cheers.—InternetArchiveBot (Report bug) 11:18, 7 January 2018 (UTC)