BNP Paribas, a leading international bank, announced the launch of operations as a local bank in the Mexican market. Currently, BNP Paribas has a strong presence in Mexico through different operating divisions, and today their companies employ over 900 people in the country.
BNP Paribas started operations in Mexico in 1966
BNP Paribas started operations in Mexico in 1966 and has played an important role in financing Mexico´s development into the 21st century: Paribas was a founder of Banco Nacional de Mexico (Banamex), one of Mexico’s largest banks, at the end of the 19th century, and stayed a minority shareholder until the nationalization of the banking system in 1982; and BNP was first established in Mexico more than half a century ago, acting as an important shareholder in Banco del Atlantico until 1982.
The BNP Paribas Group has had a strong presence in Mexico for more than 55 years providing corporate and institutional banking services, as well as insurance, asset management and personal finance services through various local entities. With a full banking license, the bank is prepared to expand its activities locally, offering a full suite of Global Markets capabilities – an area where BNP Paribas is a global leader – including cash, bonds, FX, and Interest Rates/FX derivatives, among others.
Move reinforces the BNP Paribas Group’s commitment to Mexico
Looking forward, the bank will offer additional solutions for its diversified, local client base, including local currency financing and deposits. This move reinforces the BNP Paribas Group’s commitment to Mexico, and emphasizes the bank’s long-term outlook for the country’s economic and business development.
Francisco Hernández Lozano, BNP Paribas México’s CEO, said, “This license allows us to better serve our clients by expanding our capabilities and introducing new services. Our vision and commitment is long-term, and we believe that these services and our diversified activities in the renewable energy financing sector will contribute to the economic development of Mexico. We thank the regulators for their unequivocal support in granting this license.”
Florence Pourchet, Head of CIB Latin America, added, “We are delighted to continue strengthening BNP Paribas’ presence in Latin America as a robust, financial institution focused on providing clients with holistic, region-wide solutions. Additionally, we are looking forward to the economic recovery and expansion in the region following the Covid-19 pandemic, which will further bolster our presence.”
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