The five biggest banks of Mexico based on total assets are shown below:
Source: The Banker
The banking industry in Mexico is heavily dominated by foreign banks. Mexico’s largest bank Banamex is a Citigroup(C) subsidiary. BBVA Bancomer is the subsidiary of Spanish banking group BBVA (BBVA). Based in Monterrey Grupo Financiero Banorte has been in business since 1899. HSBC Mexico is a member of the British banking group HSBC(HBC). Santander Mexico is part of the Spanish banking giant Banco Santander(STD). Last week Bank of America sold its entire 24.9% stake in Santander Mexico to Banco Santander giving Santander full control of the bank.
