Adrian Otero: "Our goal is to forge an even stronger relationship with all our customers by offering them the best experience in terms of service and quality" July 12, 2013
Adrian Otero: "Our goal is to forge an even stronger relationship with all our customers by offering them the best experience in terms of service and quality"
Adrian Otero, head of Global Clients & Investment Banking in Mexico, comments to www.bbvacib.com lhe excellent situation in the country, where BBVA leads the investment banking rankings.
Q: What is the situation in Mexico at the moment?
Mexico has become an engine of growth within the Latin American market thanks to an effective macroeconomic policy and the stability of the backdrop. The former is based on low levels of public debt, a monetary policy aimed at keeping inflation in check and strength underpinned by the capitalisation of the financial system. Factor in the impact of reforms - in particular mid-term energy reforms - and we expect Mexico to achieve significant growth over the coming years.
Q: What role does BBVA play in this market?
In 2012, BBVA was one of the leading players in investment banking and also in bank financing. We lead the ranking in products as diverse as bonds, syndicated loans, project finance, structured notes, interest rates, currencies... Even in a market as competitive as Mexico, we are growing and strengthening our operating platforms to provide the best possible service to our customers. In 2013 we expect to take further advantage of the opportunity to deepen our involvement in the capital markets based on an integrated customer relationship.
Q: How do your international customers regard Mexico?
There are several factors that help to make the country more attractive to our international customers. Mexico has become significantly more competitive and is now an attractive country for the manufacturing sector. Moreover, the new government has an ambitious reform plan, especially in the spheres of energy, telecommunications and tax, which will contribute to the country's development and allow new competitors to enter the market. These more favourable conditions mean more and more multinationals are establishing a presence in the Mexican market. This is reflected in the higher volume of issues by our international customers in Mexico and an increase in M&A activity which is helping acquisitions-led growth at the foreign subsidiaries of our customers.de emisiones de nuestros clientes internacionales en México y un aumento en M&A que ayuda al crecimiento inorgánico de nuestros clientes en sus subsidiarias extranjeras.
Q: What are your business prospects looking further ahead?
We expect stiffer competition from foreign banks because they see good opportunities for growth in Mexico. We expect more competition in the energy and infrastructure sectors, where the reforms and the backing for public-private tie-ups are set to boost growth. With regard to products, we expect the boom in corporate finance, which is posting double-digit growth, to continue in the second half of the year, attracting more competitors into the market. Our challenge is to deal with the competition, first, by working in tandem with other banks within the group, offering them our expertise, and second, by strengthening our strategic relationship with customers and developing fresh product capacities. Our goal is to forge an even stronger relationship with all our customers by offering them the best experience in terms of service and quality.