Company Overview of Grupo Financiero Banamex, S.A. de C.V.
Grupo Financiero Banamex, S.A. de C.V., through its subsidiaries, provides a range of financial services in México and internationally. The company offers savings, checking, master, and payroll accounts; debit and credit cards; mortgage, personal, car, unsecured, working capital, real estate, and bridge loans; lines of credit; overdrafts; and financing for transport equipment. It also provides investment products; life, damage, accident and disease, and investment insurance products; wealth management products and services; and private banking, financing, fiduciary, treasury, e-banking, ATM, payment, and cash management services. The company serves individual, business, corporate, and govern...
Isabel la Católica n° 44
México City, DF 06000
Key Executives for Grupo Financiero Banamex, S.A. de C.V.
Chief Executive Officer of California Commerce Bank
Chief Executive Officer of Seguros Banamex-aegon
Chief Executive Officer of Afore Banamex - Aegon
Compensation as of Fiscal Year 2014.
Grupo Financiero Banamex, S.A. de C.V. Key Developments
Grupo Financiero Banamex, S.A. de C.V. Reports Group Financial Results for the Fourth Quarter and Full Year of 2014
Mar 6 15
Grupo Financiero Banamex, S.A. de C.V. reported group financial results for the fourth quarter and full year of 2014. During 2014, the company recorded a net MXN 14,153 million profit, 23.6% less than in 2013. The company's income before taxes reached MXN 22,387 million, 1.2% lower than in 2013. At the same time, the company reported in 2014 a cumulative profit of MXN 8,030 million, 39.7% lower than the previous year. Income before taxes reached MXN 13,773 million, 10% lower than in 2013.
The company recorded a net profit of MXN 3,314 million in the fourth quarter of 2014, 1.7% less than in the fourth quarter of 2013 and 7.8% higher than the third quarter of 2014, while the company recorded a net profit of MXN 1,961 million, 20.9 % less than in the fourth quarter of 2013 and the same level as in the third quarter of 2014. The group's results reflect the following movements: 8% increase in total revenue of 2014 from the previous year, mainly driven by an increase of 5% of operating income, which includes financial margin and commissions. Higher revenues from interest income due to higher business volumes, mainly in credit to families and deposits. Higher commissions, derived from an increase in the number of customer transactions as of larger business volumes. Higher revenue intermediation results in the year, due to positive movements derived from financial market conditions. Higher credit provisions arising from credit volume growth, the natural maturing of certain portfolios and non-recurrent provisions net increase due to internal reserve constitution and penalty policies. Higher administration costs due to physical and technological infrastructure investment as well as for larger business volumes.
Itaú Unibanco Eyes To Acquire Grupo Financiero
Dec 16 14
Itaú Unibanco Holding S.A. (BOVESPA:ITUB4) wants to enter the Mexican retail banking market and is eyeing to acquire Grupo Financiero Banamex, S.A. de C.V. in an attempt to enter the Mexican retail banking market, as a potential way in, Roberto Egydio Setubal, Chief Executive Officer of Itaú Unibanco, said. Speaking to shareholders at an event in São Paulo, Setubal did not elaborate on Itaú's strategy for Mexico. "Itaú Unibanco has an interest in entering the Mexican market ... Banamex is an option that could be evaluated," Setubal said in response to a question from a shareholder.
Grupo Financiero Banamex Announces Executive Changes
Oct 6 14
Grupo Financiero Banamex's CEO Javier Arrigunaga is stepping down after a 12-year career at the bank. Citigroup has named Ernesto Torres Cantu as the new Banamex CEO.
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