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| BBVA México | |
| Company type | Partially owned subsidiary / private company |
| Industry | Finance and Insurance |
| Founded | 1932; 93 years ago (1932), asBanco de Comercio (Bancomer) 2000; 25 years ago (2000), asBBVA Bancomer 2019; 6 years ago (2019) asBBVA México |
| Headquarters | Torre BBVA México, |
Key people | Manuel Espinosa Yglesias, Carlos Torres Vila, (CEO) |
| Products | Financial services |
Number of employees | 47,554[1] |
| Parent | BBVA |
| Website | www.bbva.mx |
BBVA México[a] is the largest Mexican financial institution (2024), having about 26.7%, of the market.[2] Founded in 1932 asBanco de Comercio (Bancomer), and rebranded from 2000 to 2019 asBBVA Bancomer,[3] its main stockholder is theSpanish bankBBVA.[4] Its headquarters are located at theTorre BBVA México onPaseo de la Reforma inMexico City.
By the end of 2024, BBVA Mexico was the largest financial group in the country, with a network of 1,691 branches and 14,439 ATMs distributed throughout the country's 32 states,[1] with a 26.7% market share.[2]
BBVA México, formerly Bancomer (Banco de Comercio), was founded in Mexico City in 1932 by Salvador Ugarte, Raul Bailleres, Liberto Senderos, Mario Dominguez, and Ernesto Amescua, with Ugarte holding about two-thirds of the shares, possibly for other investors. In 1982, Bancomer wasnationalized whenPresidentJosé López Portillo nationalized the country’sbanking system. In 1991, during the presidency ofCarlos Salinas de Gortari, Bancomer was againprivatized when a group of investors led byEugenio Garza Lagüera bought the majority of the stock. In July 2000,SpanishBanco Bilbao Vizcaya Argentaria purchased most of Bancomer S.A.'s public stock from Canadian-basedBMO Financial Group, merging it with the Mexican BBVA-owned bank Probursa. In February 2004, BBVA bought the remaining shares of Bancomer S.A.'s public stock to take complete ownership of the bank.[5]
In June 2019, BBVA unified its brand worldwide and BBVA Bancomer was renamed BBVA México.[6]
As December 2023, BBVA México serves over 30,2 million customers, has 1,706 bank locations, and 14,500ATMs. It currently operates as fully owned subsidiary of Spanish BBVA Group. It represents 40%[7] of the total revenues of BBVA worldwide, making it the biggest bank of the group outside Spain.
BBVA is also the title sponsor ofLiga MX soccer since 2002.
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