Despite publicly pronouncing themselves unworried by hard-hitting criticism from the authorities on their charging levels and the threat of retaliatory sanctions from whoever takes over the government after the July elections, the top banks in Mexico look set to come up with an initiative to forestall official action. But it does not appear that this will be enough and they will surely need to develop a more active voice and lobbying role to offset the threats.
Guillermo Ortiz, governor of the Bank of Mexico, told the 69th annual banking conference in Acapulco in March that: “Today the banking system finds itself among the most profitable in the world, with capitalisation and solvency levels that have no parallel in the history of the country.”
