Santander investment will be biggest yet

Spanish bank will invest 15 billion pesos over the next three years

The Spanish bank Santander will invest 15 billion pesos (US $738 million) over the next three years to modernize branches and develop new business.

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It will be the bank’s biggest investment yet in Mexico, said Santander México executive president Héctor Grisi today.

It will include updating customer relations management systems and digital platforms, as well as the introduction of multifunction automated teller machines.

Santander has 1,076 branches in Mexico, employs 16,800 people and is one of the four largest banks in terms of assets.

Grisi said the bank will continue to invest in Mexico despite the uncertainty and volatility the country faces. “Whatever happens, Santander has a commitment to Mexico for the long term . . . these investments have to be made, come what may.”

Source: Expansión (sp), El Diario (sp)

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  • Years ago I opened an account at Santander. A couple of months later, I had still not received a debit card despite repeatedly complaining. Finally, I gave up and canceled the account. For many, many years after that, they sent me monthly statements, paper ones to my house, showing a balance of about one peso.

    If you want a bank account in Mexico, Bancomer is your best bet by far.

  • Jason Habacht

    Long lines at the few teller windows that are opened while a manager sits looking at the wall behind him. Sometimes the bank opens as late as 10 minutes after the hour scheduled…I will stick with Bancomer where the lines are much shorter, the managers are friendly and they act as if they really appreciate you as a client.

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