CITI is clear that our country is an important part of its global strategy and for the future that is seen in business, so it will be a global bank with a local presence where the long history it has in the country will help you continue growing in segment that they are now going to operate.
While Citi has decades operating, in the end it is just released with a new bank license after deciding the corporate separate the consumption banking business of private banking, and now they will focus the batteries on serving that niche, said Álvaro Jaramillo, general director of Citi Mexico.
In an interview within the framework of the Banking ConventionJaramillo said they are based on the long history of operating in the country and they build what is coming for Citi Mexico in the future.
“Our message is a very important message: we are a Bank par excellence global, but with an incomparable local presence. We see that through our global network that connectivity of Mexican clients with the world and global clients with Mexico where we have a very large advantage.
Many can say the same, but really for the time we have been, the depth of relationships, the established of them and the ability we have allows us to start thinking about a bank that does have a Very important additional growth opportunity”.
Therefore, regardless of everything that is happening in the international context, Mexico continues to be a supremely important country in the global level and a “tremendously relevant” operation for Citi, “and the most important thing continues to be a preferred destination for international clients.”
“At this time we bring to the table that it is a bank that begins with a very good scale, we will be a large bank, it is not a small bank and clearly within the context of specialized corporate banksinternational, the largest by much in Mexico with the ability to be able to execute transactions within Mexico; We bring a market knowledge and we have the capital to be able to endure. ”
Therefore, operating under the CITI brand not only represents tradition, but also a solid network of relationships, financial capacity, content and global connectivity, which supports the business offer they have in Mexico, said the banker.
Business risks
For Jaramillo, the risks of the business in the country, it is not an extra focus of concern, since he recalled operate for more than 100 years in many nations, and the nature of operating in emerging markets It is an issue inherent in volatility.
“when you see it in the course, what we see in Mexico, volatility has positive effects and has negative effects. In the net, the mixture for us is positive. We clearly see that issues such as coverage, market transactions will continue and will be very valid. At times like this, the management of the treasury becomes an important topic in how your treasury consolidates, how you control it and in that sense that connectivity that does not World and the world with Mexico for Mexican clients is also an important advantage. ”
In addition, since last year there has been a growing interest on the part of international clients in the country, promoted by Nearshoring, which resulted in the arrival of many new customers, to which you have to add the bank’s connectivity, he insisted.
In his opinion, Nearshoring has not been lost, rather there is a difficult situation to read.
“It is a situation that generates uncertainty, but when you look at it in the context slightly more broad and from where we are today, Mexico is in a much better position than most of the countries of the world, that is a reality. There are market definitions that are favorable for Mexico and for the United States and that makes Mexico continue to have a very important relevance and a renegotiation of the treaty will come, that I hope I hope soon.”
The most important thing, he said, is that in his analysis the elements that are present today remain valid forward and therefore the issue of Mexico as an attraction of investment remains very high, for human talent, a geographical position that from the logistics perspective is very important and has a partner to the United States. “I feel that despite uncertainty, Mexico still has a lot to do and that there will be outcome that is not quite bad for Mexico.”
For what he said today are more than ready to compete at the same rate as other banks.
