Enrollment for the FMVA™ Certification Program is now OPEN!

Top Banks in Mexico

An overview of Mexico's leading financial institutions

Overview of Banks in Mexico

The central monetary authority in Mexico is the Bank of Mexico (Banco de Mexico). The Mexican central bank regulates the domestic money supply and foreign exchange market, enforces credit controls, and sets reserve requirements for banks in Mexico.

 

Top Banks in Mexico

 

The different types of banks in Mexico are:

  • Public development banks
  • Public credit institutions
  • Private commercial banks
  • Private investments banks
  • Savings and loan associations
  • Mortgage banks

 

Moody’s maintains its negative outlook on the Mexican banking system, due to the potential decline in asset quality amid the weak economic growth, increasing interest rates, and relatively high inflation in the country. The rating agency expects the problems will continue to weigh on disposable income and hence on the borrowers’ repayment capacity.

For anyone considering a banking career in Mexico, this list is a helpful guide on where to start. To learn more, see our list of financial institutions.

 

The top banks in Mexico are:

 

BBVA Bancomer

Established in 1932, BBVA Bancomer is the largest bank in Mexico. It provides various financial products and services to companies, government, individuals, and SMEs and business customers. The bank operates 1,800 branches, 7,700 ATMs, and 125,000 POS terminals. With around 10,000 employees, it is headquartered in Mexico City.

As of 2016, total assets of the bank were US$900 billion and net profit was US$5775 million.

 

Santander Mexico

Founded in 1932, Santander Mexico operates through two segments: Commercial Bank and Global Corporate Bank. As of 2016, the bank’s total assets amounted to US$1,648 billion and net profit reached US$9,213 million.

 

Banamex

Banco Nacional de México, S.A., also known as Banamex, operates in Mexico and other countries, too. Established in 1884, the bank is headquartered in Mexico City with around 41,000 employees. It manages approximately 1,600 branches and 7,500 ATMs.

In 2016, the bank reported total assets of US$64 billion and a net profit of US$570 million.

 

Banorte

Founded in 1899, Banorte is a wholly owned subsidiary of Grupo Financiero Banorte, a leading banking and financial services holding company in Mexico. With around 27,000 employees, the bank is based in Mexico City. It operates through a network of approximately 1,191 branches, 7,425 ATMs, 6,989 third-party correspondents, and 155,893 POS terminals.

As of 2016, the bank’s total assets were US$70 billion and net profit was US$1.038 billion.

 

HSBC Mexico

HSBC Mexico operates as a foreign bank of HSBC México S.A., Institución de Banca Múltiple, Grupo Financiero HSBC. Incorporated in 1941, the bank is based in Guadalajara, Mexico. It employs around 16,000 employees and manages 973 branches and 5,532 ATMs.

As of 2016, the bank’s assets totaled US$35 billion and net profit amounted to US$81 million.

 

Scotiabank Mexico

Scotiabank Mexico provides various banking services to individuals and corporations in Mexico. Established in 1832, the bank offers corporate and investment banking services, personal and commercial banking, and wealth management services, serving over 24 million customers in more 50 countries around the world. It operates out of Mexico City and employs around 88,000 staff.

In 2016, the bank posted total assets of US$896 billion and a net profit of US$7368 million.

 

Bancomext

 Founded in 1937, Bancomext provides various financial products and services in Mexico. It specifically serves as an export credit agency and helps in financing and promoting small and medium exporting local companies in international markets. It also offers consulting services for companies that want to enter the export business.

With around 554 employees, the bank is based out of Mexico City. As of 2016, the total assets of the bank were US$19.46 billion and net profit was US$38 million.

 

Inbursa

Inbursa provides banking services to individuals and SMEs in Mexico. Established in 1993, the bank operates business units focusing on investment funds, general insurance, automobile insurance, mortgages, health insurance, retirement funds and commercial banking. Headquartered in Mexico City, it employs around 2,054 staff.

As of 2016, the bank’s total assets amounted to US$28.55 billion and net profit reached US$668 million.

 

Deutsche Bank México S.A.

Deutsche Bank Mexico S.A. operates as a subsidiary of Deutsche Bank Americas Holding Corporation. With around 54 employees, it is based out of Mexico City. In 1995 and 2000, respectively, Deutsche Bank acquired licenses for (broker-dealer) and Deutsche Bank Mexico, S.A. Institución de Banca Múltiple (bank subsidiary), significantly boosting its local presence.

In 2016, the bank reported total assets of US$1956 billion and a net loss of US$1725 million.

 

Banco del Bajio

Founded in 1994, Banco del Bajio offers various commercial banking products and services to individuals, companies, governments, and SMEs in Mexico.

The bank provides a wide range of financial products and services to individual customers, governmental bodies, small and medium-sized companies, and corporations. It also serves its clients through an Internet and mobile platform.

As of 2016, the bank’s total assets were US$10.43 billion and net profit was US$210 million.

 

Careers in investment banking

To break into investment banking, there are several important things to focus on.  These include networking, resume, experience, and financial modeling skills.  To learn more, explore our interactive career map…. investment banking careers For banking careers, you will gain a significant edge over the competition with our financial modeling courses.

 

Additional resources

This has been a guide to the top banks in Mexico. For anyone looking for a career in banking, this list is a great place to start your networking. Please also see these additional resources:

Financial Analyst Certification

Become a certified Financial Modeling and Valuation Analyst (FMVA)™ by completing CFI’s online financial modeling classes and training program!