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The managing director of Citibanamex, Ernesto Torres Cantú, He said the firm would keep the name of the National Bank of Mexico, in a year when the company celebrates its 135th birthday in the country.
"There is literally only one national bank in Mexico and we will never stop being," said the executive one day after the trademark was removed. Bancomer by BBVA.
The executive announced its financial report in the first quarter of 2019, in which Grupo Financiero Citibanamex rhe recorded a net profit of 7 billion 200 million pesoswhich equals 9.2% growth over the same period of 2018.
Torres Cantú said that given the forecast slowdown of the Mexican economy by 2019, this dynamic will result in credit growth, which should bring the entire banking sector to 5% only consumer credit for individuals and businesses. 10% in business financing.
"We expect a slowdown in the whole system," he said.
In this sense, the executive explained that during the first three months of the year, measures such as the fight against theft of gasoline, which caused fuel shortages in some areas of the country, had no significant impact on economic activity.
Torres Cantú recalled that Citibanamex had a forecast growth of the Mexican economy of 1.3%, comparable to that of the majority of economic analysts and international organizations.
At the end of the first quarter of 2019, Grupo Financiero Citibanamex's current credit portfolio was 657 million pesos.
In detail, credit cards recorded a portfolio of 103 billion pesos, 3% more than the first quarter of 2018.
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