Spain's BBVA to Invest $2 Billion in Mexico

Via Latin American Herald Tribune:

Spanish banking giant BBVA, the second largest bank conglomerate in Spain, and 7th in the world, will invest $2 billion in its Mexican unit, BBVA Bancomer, over the next three years, BBVA chairman and CEO Francisco Gonzalez said in June.

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This plan entails strong investment in technology and new platforms, and it is also an indication of BBVA Bancomer’s commitment to banking and the promotion of lending,” Gonzalez said in an address that was attended by Mexican President Felipe Calderon.

With the ever-growing Mexican economy, the BBVA investment funds will be used to expand branches, add ATMs and payment terminals, and promote mobile banking, Gonzalez said.

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