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$1.4 billion deal steps up concentration among Mexican banks

Friday, June 29, 2018


The concentration of Mexico’s banking sector continues. Banorte’s purchase of Grupo Financiero Interacciones has been approved by the nation’s trust-busters, Cofece.

The $1.4 billion deal was approved by Cofece.

Now two thirds of the Mexican banking sector is in the hands of four institutions: BBVA Bancomer, Santander, Citibanamex and Banorte.