trending Market Intelligence /marketintelligence/en/news-insights/trending/ybIUMVHipREF9wENzjWQ_w2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

Mexico's banking association rules out a general agreement on lower banking fees

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible


Mexico's banking association rules out a general agreement on lower banking fees

The Mexican banking association, ABM, has ruled out an across-the-board agreement among banks and legislators to lower banking fees and commission, claiming that any such deal would violate competition regulations, El Economista reported.

Speaking at a banking convention in the Mexican city of Acapulco, ABM chief Marcos Martínez Gavica said a marketwide fee deal would effectively lead Mexico's watchdog Cofece to sanction banks for fixing prices that should be determined by competition.

However, the banking association head noted that banks should still seek better conditions for their clients. "We are talking conceptually of what measures can be taken so that clients are benefited more than they are today, so that the legislators are reassured that they have done their work and that they have protected those who should be," he reportedly said.

The comments come as legislators of the Morena party are reportedly working toward an agreement on banking fee regulations with financial system stakeholders and regulators. Earlier in the week, Grupo Financiero Banorte SAB de CV CEO Marcos Ramírez Miguel said that a draft had been completed and likely would be announced during the convention, which ends March 22.

The issue has sparked debate in recent months after a member of Mexican President Andrés Manuel López Obrador's party proposed to force the elimination of certain commissions charged by banks.

Local bank stocks took a hit after the proposal, and the president later distanced himself from the plan, saying the "government's position is not to promote reform initiatives that may generate distrust in investors."