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 NEW YORK, Sept. 15 /PRNewswire/ -- Grupo Financiero Bancomer (GFB) announced today the restructuring of the operations of its subsidiary companies, including those of Mexico's largest retail bank, Bancomer, S.A.
 In making the announcement, Ricardo Guajardo, chief executive officer of Grupo Financiero Bancomer, stated: "GFB's new strategic model will allow us to consolidate our leadership as a profitable and growing financial institution in an increasingly competitive environment. The model adopted today will deeply change the way our business is perceived and organized."
 GFB was formed in 1991, and as of June 30, 1993, owns 99.50 percent of Bancomer, S.A., Mexico's largest retail bank. In addition to Bancomer, GFB's subsidiaries include Casa de Bolsa Bancomer, a brokerage house; Arrendadora Monterrey, a leasing company; Arrendadora Bancomer, a leasing company; Factoraje Bancomer, a factoring company; and Almacenadora Bancomer, a bonded warehousing company.
 The main purpose of the new structure is to make Bancomer and the other GFB subsidiaries more responsive to their clients' needs and more efficient in the increasingly competitive environment of Mexico's recently reprivatized banking industry.
 Therefore, in order to more efficiently provide and promote its services and products, GFB will now be reorganized into five business and product units:
 -- Service Bank, responsible for Bancomer's network of more than 800 branches nationwide, Mexico's largest, and to manage bank deposits, small business loans, agricultural loans and rediscounted loans with special agency funds.
 -- Consumer Bank, responsible for managing Bancomer credit and debit cards, consumer credit, electronic banking, pension funds, and retail sale of investment funds.
 -- Institutional Bank, to handle corporate banking services, government banking, medium size business banking, and mergers and acquisitions.
 -- Mortgage Bank, to provide mortgage credit to developers, individuals, and for commercial real estate.
 -- Specialized Bank, to handle treasury operations, private banking, fiduciary services, and services provided by GFB subsidiaries in the areas of brokerage services, leasing, and factoring. The Specialized Bank will also be responsible for Bancomer's international branches, agencies and representative offices, including relations with correspondent banks, and for foreign representation of GFB subsidiaries.
 Support for the new business and product units will be provided by five in-house corporate departments. These include corporate offices of the controller; credit and risk management; finance and administration; systems and planning; and human resources.
 In the new strategic model, management will simplify procedures, operations will be based on processes rather than departments, and product and services will be delivered through specialized and non-traditional channels to reach specific market segments.
 According to Ricardo Guajardo, "GFB's strategic restructuring will lead to excellence in providing products and services; it will permit us to anticipate trends in world financial markets; and will streamline production and distribution, creating new corporate culture dedicated to service and innovation."
 The new managerial structure will go into effect immediately and is expected to be fully operational by the beginning of 1994.
 In its January-February 1993 issue, Latin Finance magazine rated Grupo Financiero Bancomer as the ADR issue of the year for 1992 and in an independent survey among bankers, securities analysts and fund managers, Euromoney rated GFB as the best-managed financial institution in Latin America.
 -0- 9/15/93
 /CONTACT: Bill Colon or Peter McCue of Fleishman-Hillard, 212-265-9150/

CO: Grupo Financiero Bancomer ST: New York IN: FIN SU: RCN

SH-TW -- NY071 -- 2343 09/15/93 15:17 EDT
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Publication:PR Newswire
Date:Sep 15, 1993

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