Invex Group: 2024 looks “from good to very good for the country”

Mexico City. In economic terms, this year looks from good to very good for Mexicosince the activity has shown that it continues in a positive moment with a favorable internal and external environment, says Jean Marc Mercier, general director of Grupo Financiero Invex.

In an interview before the 87th Banking Convention to be held April 18 and 19 in Acapulco, Guerrero, he points out that this year’s elections are not a matter of concern, although we will have to see how the markets respond to the results.

It stands out that with the management of President Andrés Manuel López Obrador, social and economic stability was maintained, which must be continued. For the next administration, the challenges are in the rule of law and in addressing insecurity problems in some regions of the country.

–How does 2024 look for the banks, the economy and the country?

–Looks good to very good. The economy is showing that it is in a very positive moment, with a favorable local and international environment, where obviously the issue of nearshoring remains a driver. There is an environment of expectation of lower rates, not as expected, but it is still an environment of controlled inflation and lower rates. Clearly there is the electoral issue in the middle, but we do not see that this will have consequences for this year.

–Mexico is a profitable country for banking operations; Proof of this are the profits. What do you expect from the evolution of the system in the following years?

–The banking system has been an engine of the economy. The banks are healthy, very well capitalized, above what national and international standards require of us. From the point of view of profitability, it is very healthy and that allows growth, investment and fulfilling our function, which is to raise money responsibly, provide returns, offer products and support the country’s economy.

–The current administration is about to end. What do you think about López Obrador’s management and what remains to be done?

–I don’t like to get into political issues, but at a macroeconomic level we are calm, in an environment that allows us to fulfill our role in banking. In the sense of what the economic environment presents, 2024 looks very good. I don’t dare say what it will be like in 2025; It will depend a lot on the electoral result, on how the markets take it, on how foreign investment takes it.

“We have insisted a lot, and it is something on which we have to continue working with the current government and the next: the rule of law. That is what allows us to do banking in a responsible and purposeful way; I’m not saying it’s pending, because at the end of the day work has been done on it.

–So, regardless of who wins the race, what should be left and what should be changed in economic matters?

–What must be maintained is the social and economic and the rule of law; That is what allows us to do business and fulfill the role of growth engine that we have in banking.

–Insecurity appears as one of the main concerns of businessmen and banks. How much does it affect the daily activity and vision of companies?

–It always affects. In the safest country in the world it is easier for people to be calm, to consume, for people to grow or create jobs, and at the other extreme, if you are in an insecure country, it is much more complex.

Mexico has always been in a situation with many opportunities in that sense. The concrete answer is: the safer the country, the clearly there are greater opportunities for growth, well-being and the rule of law.