Banking union is waiting to see how changes to the Federal Judicial Branch will come about: ABM.
There are 400 nearshoring -related projects that represent a great opportunity for growth, ready to be developed in Mexico, said Julio Carranza, president of the Mexican Banking Association (ABM).
The union leader recalled that the North American region, the United States, Canada and Mexico represent 28% of the world's Gross Domestic Product (GDP) and "we have a privileged geographical position to take advantage of it."
“Mexico has many opportunities, with clear signals of confidence from the government, we have the opportunity of our lives, but let us also remember that opportunities only come once in a long time,” he said.
Everyone, added the president of the banking union, is waiting to see how the reform of the PJ comes to fruition, how the change of government comes about and there is great hope in the new president.
We think, he said, that with Claudia Sheinbaum there will be continuity in the social aspect, we will also have a good analysis and dialogue of the projects and important issues for the country.
The president of the board of directors of Banco Coppel also spoke openly about the recent approval of the reform to the country's judicial system.
It is important to consider that Mexico requires a reform of the Judicial Branch, but the changes need to be more inclusive, reaching local judges and public ministries, where people have to face various elements in the search for justice.
"We agree with the reform, but we also have to take care of the country. This means having clear filters to see who the judges are and we cannot choose just anyone to represent us and do justice for all the people," he said.
The reform, he was interrupted, has already been approved, but he added: Yes, it was approved in the Chamber of Deputies, but work must be done on secondary laws, fine-tuning details so that a good reform of the Judicial Branch of the Federation is achieved.
THE BUSINESS OF LENDING
The banking business is lending, says the sector leader. Banks are ready to finance projects, to grow the market with new projects, for government, infrastructure, companies, and especially for medium and small companies.
There is a great commitment to SMEs, from the government, the banks, the development banks, because these companies generate eight out of every 10 jobs, but they only receive 15 out of every 10 pesos that are lent.
Asked if during this six-year term that is about to end they were still willing to lend to the government and the prospects for the incoming administration, Julio Carranza said that his business is lending to the government and to companies.
He spoke of lower interest rates and lower GDP growth in Mexico. He said that a reduction in interest rates in Mexico and the United States would help to provide more credit.
He added that the banks have more than 6.5 trillion pesos (US$ 325.231 billion) to lend, which would help reactivate the economic recovery, but he also stressed that there are many internal and external challenges that must be faced.
Given the volatility faced, he asked authorities to send signals of confidence to the market and if these elements are present, the market will respond positively.
“We must know what the plans of the next government are, have certainty and dialogue, and Dr. Sheinbaum has said that open dialogue will be promoted,” she said.
