“Mexico managed to be the first partner of the US”; the 87th Banking Convention concludes

He President Andrés Manuel López Obrador He stressed that, in his government, Mexico became the first partner United States commercial.

China was the US’s first trading partner, later it was displaced by Canada; We rose to second place and now we are already in first place: we are the main trading partner of the United States,” he said when reviewing his economic achievements at the closing of the 87th Banking Convention.

This should lead us to think that economic integration, the trade agreement, is very important. We need each other. Foreign investment will continue to arrive, our economy will continue to integrate with the economy of our northern neighbor. It’s historic,” he said.

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The Association of Banks of Mexico (ABM) thanked him haber fulfilled his commitment of not change the regulation of the sector.

We remember your message: ‘There will be no change in the rules’, which has been completely fulfilled, thank you very much, Mr. President,” said Julio Carranza, president of the ABM.

López Obrador thanked the bankers that they have treated him with respect.

I’m going to Palenque in five months. They have treated me very well, with respect, and I consider that it has been reciprocated,” he said.

BANKERS THANK LÓPEZ OBRADOR FOR NOT CHANGING RULES OF THE GAME

He president of the Association of Banks of Mexico (ABM), Julio Carranza, thanked the President Andrés Manuel López Obrador haber fulfilled its commitment not to change the regulation of the sector. “You were very clear in pointing out that you would not change banking regulation, which for years has become the best international practices and the strictest supervision, we clearly remember your message: ‘There will be no change of rules’, which has been fulfilled “Exactly, thank you very much, Mr. President.”

During the closing of the 87 Banking Convention highlighted that the environment of certainty generated palpable resultsSince the banks have invested at record levels.

He indicated that, since December 2018he net capital invested by banks grew 60% reaching 1.6 billion pesos, making banking the sector that invests the most in Mexico and one of the sectors that contributes the most in paying taxes.

Today Mexico has a healthy, solvent and liquid banking system that stands out favorably in the international arena; its regulation, he reiterated, complies with the strictest national and international standards.”

He recalled that the index of capitalization stands at 19.7%, above the 10.5% requiredthe liquidity index almost triples the regulatory requirement, reaching 277% and the past due portfolio is at historic lows with 2.1 percent.

THERE WAS RESPECT

In what was his last attendance at the Banking Conventionhe President of Mexico, Andrés Manuel López Obrador, thanked the bankers that they have treated well and with respectalso confirmed that during His administration fulfilled his government promises.

I have to tell you that I thank you very much, I will not be in the next one… I am leaving for Palenque in five months, I say goodbye to you in advance, you have treated me very well, with respect and I consider that it has been reciprocated,” they were the words of the Mexican president before the attendance of two thousand people.

And he told them that during his administration “I have treated them with respect and I have fulfilled the commitments I made from the beginning of my government,” which caused a standing ovation for López Obrador.

Besides, congratulated the Association of Banks of Mexico for its leaders. He recognized the work of Daniel Beckerwhile Julio Carranza was classified as “exceptional” in his performance at the head of the union.

The chief executive reviewed the economic achievements of his administration, with economic growth of 3.2% at the end of 2023, low unemployment levels of 2.6 percent. As well as the increase in the minimum wage without generating inflation.

He highlighted that one of his great achievements was reduce poverty levels in the country“we have managed to reduce poverty in our country as has not happened in a long time, it is the fact that moves me the most, it matters to me.”

He said that this year the Inegi Household Income and Expenditure Surveyin which data is expected to reveal that five million people escaped poverty under the current government.

This is everyone’s effort, you bankers and all Mexicans have helped in this,” the president mentioned.

EFFICIENT

He Secretary of the Treasury, Rogelio Ramírez de la O, reported that to define and calibrate the sectoral policy for the banking sectorsubstantive improvements will continue to be made to the Bank Performance Evaluation.

He explained that he is working on a project to modify the current evaluation guidelines, in order to make this process more efficient and transparent.

These modifications will simplify the filling out of the Strategic Questionnaire, will allow moving towards a digital, agile and automated scheme, while recognizing the efforts of those banking institutions that incorporate environmental, social and governance considerations in their corporate or business strategies,” he explained. .

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