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Veteran Mexican banker Marcos Martinez Gavica, head of Grupo Financiero Santander Mexicano and an 18-year veteran of Banamex, talks with LATIN TRADE reporter Matthew Estevez about the country's lending outlook, including mortgage loans, the credit card business and keeping Mexico's financial house in order.
Who benefits from growth in the Mexican banking industry?
Assembly plants and exporters have done very well thanks to exchange rate over the last few years. But, on the low-- end segment, the recovery has been much slower. The fact that we are opening up mortgage loans will trigger construction. This will result in a level of recovery for business that provides for greater economic stability and much greater job creation and a recovery of saving and leverage capacity for people.
To whom are you lending money?
In June 2000, we decided to return to the credit card business, where Mexican banks lost all their money. Considering that we have 50,000 cards and 500,000 clients, there is a considerable gap that, without being...