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| BEST BANK: BBVA Bancomer BEST EQUITY HOUSE: Credit Suisse BEST DEBT HOUSE: Credit Suisse BEST M&A HOUSE: Citigroup |
Lending is finally beginning to take off in Mexico, with the main banks becoming more active in offering a variety of products. Credit cards, auto loans, mortgages and lending to SMEs are all on the menu in a country where loans amount to just 12% of GDP. The growth in lending is proving particularly profitable for Mexico’s banks, with Banamex leading the way: last year its net income rose to $1.926 billion and hit $444 million in the first quarter of 2006.
But despite these impressive figures the best bank award goes to BBVA Bancomer. In early 2005, the bank bought mortgage provider Hipotecaria Nacional, a move that is already paying big dividends. Today, Bancomer is the leading player in new mortgage loans, as well as in car loans and total consumer loans.