Market cap

* For banks, enterprise value is substituted with market cap. Source: Bloomberg Finance L.P.

Performance of the brand

Initially, Banco Nacional de México (Banamex) evolved from the merger of Banco Mercantil Mexicano and Banco Nacional Mexicano in 1884. Today, Banamex counts 200 million account holders and is one of the world’s leading financial service companies represented in over 100 countries worldwide. This is also due to the fact that Banamex was acquired by the American Citigroup Inc. in August 2011, which had been the largest US-Mexico corporate merger in the countries’ history.

As the second largest economy in Latin America, denoting a forecasted GDP growth rate of 4.8% for 2011 , Mexico represents a powerful economy with rapidly developing industrial and service sectors. This especially increases the country’s attractiveness when it comes to mergers and acquisitions within the financial sector. In fact, the Mexican banking sector became increasingly dominated by foreign companies merging with established Mexican banks, such as Banamex and Citigroup. Yet, Banamex seizes the new opportunities and synergies, allowing the group to offer a broader range of financial services to both its Mexican and international customers through various subsidiaries. Besides Banamex, these subsidiary companies include Acciones y Valores Banamex, the brokerage firm Casa de Bolsa, the retirement and fund management company Afore Banamex, as well as Banamex’s insurance branch Seguros Banamex.

The bank’s net income increased from 14,859 million Pesos in 2009 to 17,459 million Pesos in 2010 (17.5%). Enrique Zorrilla, CEO of Banamex in Mexico, stated: “The results of Banamex are clear evidence of our commitment with Mexico and its development. Only in last year, we grew by more than one million customers and we currently serve more than 20 million Mexicans in their saving and financing needs. We have stressed particularly credit to medium and small-sized companies. In 2010, Banamex was the bank that showed the highest growth rates in personal and payroll loans and in mortgage financing.” This emphasises Banamex’s strong financial position, which is also supporting the bank’s brand value development. Since 2009, brand value steadily increased, starting from $593 million in 2009 to $1,356 million in 2010 (129%), to $2,406 million in 2011 (77%). Consequently, Banamex also improved its brand rating within the BrandFinance^® Banking 500 2011, jumping from rank 111 in 2010 to rank 73 in 2011.

 

 

Last changed October 20, 2011

League tables

Banamex appears in the following brand league tables:

Rank 71 in the Banking 500 2012.
Rank 73 in the Banking 500 2011.
Rank 462 in the Global 500 2011.
Rank 110 in the Banking 500 2010.
Rank 157 in the Banking 500 2009.