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BBVA Bancomer suspends branch closure following protests

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BBVA Bancomer suspends branch closure following protests

BBVA Bancomer SA will keep its sole branch in the Mexican town of Ciudad Madera open until at least January 2018, El Financiero reported, citing comments from Óscar Coppel, the company's director of commercial banking.

The bank had earlier announced plans to close the branch located in the state of Chihuahua on Nov. 24 amid rising criminal gang activity in the region, and politicians had asked the lender to reconsider the closure.

The bank and government representatives will meet in January 2018 to review security conditions in Ciudad Madera, according to the report. BBVA Bancomer's decision to postpone the planned closure follows a series of protests outside the branch.