MEXICO CITY, Dec. 8, 2016 /PRNewswire/ -- Grupo Financiero Santander México, S.A.B. de C.V. (BMV: SANMEX; NYSE: BSMX) ("Santander México"), one of the leading financial groups in Mexico, today announced it plans to allocate $15 billion Mexican Pesos between 2017 to 2019, for investments and initiatives to support business growth.
Executive President and CEO of Santander México, Héctor Grisi, commented: "Reflecting our confidence in the Mexican financial system and our business model we are allocating $15 billion pesos over the next three years, additional to our recurring investments and initiatives, to support our goal of becoming our clients' primary bank and Mexico's market leader in profitability and sustainable growth.
To achieve this, we are reorganizing our business to drive innovation and investing in systems and infrastructure including next generation technology. This involves upgrading our CRM and digital platforms; transforming our multichannel distribution network; and introducing multifunction ATMs to change the way we approach the market. We also plan to further strengthen projects launched this year, such as Santander Plus and continue introducing innovative products to enhance our service offering and strengthen customer loyalty.
Recognizing the need to enhance our processes and digitalize our operations, we are investing to provide higher quality service at a lower cost. This means customer satisfaction, innovation and product value, remain our benchmarks for success."
About Grupo Financiero Santander México, S.A.B. De C.V. (NYSE: BSMX; BMV: SANMEX)
Grupo Financiero Santander México, S.A.B. de C.V. (Santander México), one of Mexico's leading financial services holding companies, provides a wide range of financial and related services, including retail and commercial banking, securities brokerage, financial advisory and other related investment activities. Santander México offers a multichannel financial services platform focused on mid- to high-income individuals and small- to medium-sized enterprises, while also providing integrated financial services to larger multinational companies in Mexico. As of September 30, 2016, Santander México had total assets of Ps.1,242 billion under Mexican Banking GAAP and more than 13 million customers. Headquartered in Mexico City, the Company operates 1,076 branches and 311 offices nationwide and has a total of 16,828 employees.
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SOURCE Grupo Financiero Santander Mexico, S.A.B. de C.V.