economy and politics

#Chronicle: With historic profits, AMLO and the banks live an idyll

#Chronicle: With historic profits, AMLO and the banks live an idyll

At the inauguration of the 86th Banking Convention, the Tabasco native not only highlighted the country’s economic strengths, he also gave “permission” for bankers to become richer, yes, on one condition: that everything be legitimate and reasonable.

“Keep doing legal business, keep making legitimate and reasonable profits. Let’s all continue promoting progress with justice in our country, ”he said to applause from those in attendance.

Previously, the president twice highlighted the historical profits of the banks: 236,743 million pesos in 2022, which, he explained, is the result of Mexico’s economic strength during his administration.

But the romance was not without a small stumble. Perhaps it was a bit of nerves, or the desire to do a “spoiler” again, but López Obrador went out of his way to “announce” another bottle cap for 2024.

“Mauricio Vila, pres… governor”, managed to back off, to then finish off: “one more uncover”. The laughter of the attendees sounded loud.

Bankers also cry

It was his turn to speak and Daniel Becker, still president of the Mexican Banking Association (ABM), said he had an important announcement. The expectations that he generated made some think that he could advance information on the sale of Banamex. After all, he has been one of the main stakeholders.

The announcement had to wait, the union leader first dropped “some flowers” to President López Obrador, whom he thanked for the fact that the economic stability that his government has generated has allowed him to have a liquid and robust financial system. The idyll is strong.

However, everyone was attentive to Becker’s message when, between a broken voice and pauses, he confessed that this year he will go to two weddings: those of his children. At that moment, the voice was broken and tears almost jumped from his eyes before the astonished look of those who expected another type of message.

There he confessed as an absent father during his tenure at ABM and now he knows what the famous phrase that he was once warned about feels like: “children are borrowed.” From Banamex, nothing.

Inclusion in banking?

One of the main messages from the bankers during the day was inclusion and gender issues, especially the importance and participation of women in the financial sphere.

At the breakfast that the ABM offered to the media, they boasted about the achievements they have had on the subject and how women play a key role in decision-making, only they missed one detail: the table of exponents was full of men.

As if that were not enough, in the inaugural act of the bank, which was titled Challenges and opportunities; inclusion, sustainability and nearshoringOf the 18 people who were part of the presidium, there was only one woman: Victoria Rodríguez, governor of Banco de México.

What is important, however, is that in the end the bankers’ party ended on good terms with the main interlocutor of the federal government. The idyll continues and everything indicates that it will be like this until 2024.



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