Banks thank AMLO for not having changed the rules

Acapulco, Gro. The country’s bankers thanked President Andrés Manuel López Obrador for not changing the rules of the sector as he offered in 2019, the first time he attended the Banking Convention as president.

“We are honored with the presence of the president, it is the sixth time that he has honored us with his presence, since his first participation in 2019 he transmitted to the bankers a message of certainty and confidence that are fundamental for economic development and growth.

“He was very clear in stating that he would not change banking regulation that for years has converged with international best practices and supervision. He said that there would be no change in the rules and it has been fully complied with, thank you very much Mr. President,” said Julio Carranza, president of the Association of Banks of Mexico (ABM).

At the closing ceremony, the representative of the group of private banks that operate in Mexico, and that are going through one of their best moments in terms of profit generation, Carranza also thanked López Obrador for having respected the autonomy of the Bank of Mexico , as he promised at the beginning of the six-year term.

The president of the ABM congratulated the head of the Ministry of Finance and Public Credit for the reasonable and accurate management of public finances.

Carranza told López Obrador that the environment of clear rules has fostered a favorable environment for doing business, which is why “it is crucial to take care of this environment, certainty and trust are valuable assets, difficult to forge and easy to lose.”

To the candidates competing for the presidential seat this year, the president of the ABM told them that the bank “is respectful of the electoral process and works with total commitment with whoever is favored in the popular election, maintaining certainty and trust, that is the fertile ground for growth and that is essential for the development of Mexico.”

Carranza pointed out that currently, the balance of the credit portfolio exceeded 6.8 billion pesos, and in the last five years the growth is 36 percent.

He added that as a result of the certainty that exists in the country under the mandate of López Obrador, banks have invested record numbers, and around 25 billion dollars are allocated to technology issues.