The bench that gets on a Tesla

In this quest to get closer to its users and reach their leisure moments and spaces, Hey, who is waiting to obtain his license as fintech by the National Banking and Securities Commission (CNBV) to separate from Banregio, it has also become a sponsor of the Pa’l Norte music festival, an event that in 2023 attracted more than 240,000 people.

Pedrazuela considers that although the merchandising de Hey can help brand positioning, what has really helped it win customers is the full range of financial products it offers in its application.

Going forward, the financial entity will launch a function for users to invest in fractions of shares of US companies. “We are also about to release a new apps, called Hey X, which is going to offer fractional shares so that you can invest 20 or 200 pesos in Amazon”, explains Rivero. To improve and add the functions of Hey, he made an investment of 325 million pesos in technology last year.

The Musk Effect

While Hey is committed to digitization and investments, the plan for Banregio is to grow thanks to the trend of the nearshoring and the arrival of Tesla to New Lion seems to be a good first start. “We saw a greater demand than we had seen in previous years already with the certainty of the Agreement (between Mexico, Canada and the United States), without a doubt, and the fact is that we have been able to grab market share in many segments and in many regions where we do not have so much time participating ”, explains the manager.

The forecast is that with the arrival of the gigaplant of the company Elon Musk In Santa Catarina, banks can give loans to companies that supply the automotive company and to future factory workers, who will demand home loans, car loans, and credit cards. “The bank has always chosen, in a certain way, to have a very lean operation and, therefore, the focus has always been on clients with high payment capacity,” adds Rivero.

The arrival of a company like Tesla will help create jobs with better salary conditions and these circumstances favor the placement of credit. And, although this scenario is in the long term, the bank is committed to doubling the size of the institution. “In many regions, and we still have work to do in others, the fact is that doubling the size of the bank is very feasible,” adds the manager.

Intercam analysts highlight that the quality of its customers in 2022 helped make the business profitable, although they expect the good news to lessen this year. “Banregio knew how to use his cards and took advantage of the economic, thematic and geographical situation to expand his business: the nearshoring. The bank was left with good clients, flashing quality and profitability,” the entity’s report states.

The financial institution has already received a greater demand for credit, especially in the northern states more oriented to the export segment of manufacturing and other industries, such as agri-food. Credit demand grew 16.5% in the last quarter of 2022, especially in the center and north of the republic. Also, in the last year and a half, the number of companies requesting financing for the construction of industrial buildings has increased “like never before.”

By 2023, delinquency is expected to increase slightly, but also for the credit portfolio to grow in double digits, between 10 and 15%, and reach more than 155,000 million pesos.