The Mexican economy has been going through a period of significant development. There is a large degree of optimism both domestically and on the international scene. After being in the shadow of the BRICS countries (Brazil, Russia, India, China and South Africa) over the past few years, Mexico is back in the spotlight. Macroeconomic stability...
THE COMPANY: Alsea (ALSEA) is a leading restaurant operator in Mexico and Latin America. It has a multi-brand portfolio including the operation of Domino’s Pizza, Starbucks, Burger King, Chili’s, California Pizza Kitchen, P.F. Chang’s, Pei Wei, Italianni’s and The Cheesecake Factory. Alsea’s...
One of the most important structural reforms for Mexico’s banking sector is wide-ranging financial reform. Presented to Congress in May 2013, approved in November 2013 and promulgated in January 2014, the reform includes various bodies in the financial sector, such as banks, stock exchange intermediaries, investors, insurance companies, saving...
An important component of the Mexican banking system is its multiple-purpose financial firms (Sociedades Financieras de Objeto Múltiple, SOFOM). Until July 2013, there were two types of financial societies, the other being for limited purpose (Sociedades Financieras de Objeto Limitado, SOFOLs). SOFOLs were created in 1993 and were specialised...
Despite slow growth in the Mexican economy in 2013, the prospects for the next few years remain positive, given recent structural reforms, a stable macroeconomic environment and an improved credit rating. The banking system has been experiencing a period of stability not seen in its recent history. Not only was it not affected by domestic...
Banking regulators in Mexico treat the seven largest of the 21 financial groups operating in the country as a distinctive group. The top seven include Spain’s BBVA Bancomer and Santander, Mexico’s Banorte and Inbursa, America Banamex (which has been controlled by Citigroup since 2001) HSBC and Canada’s Scotiabank. The list is made up of two...
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