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Is Bancomer now BBVA Ajijic centro?


sm1mex

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Banco Bilbao Vizcaya Argentaria, S.A., better known by its initialism BBVA, is a Spanish multinational financial services company based in Madrid and Bilbao, Spain. It is one of the largest financial institutions in the world, and is present mainly in Spain, South America, North America, Turkey and Romania. Wikipedia

It is much smaller than HSBC

The largest bank Lakeside is HSBC, second largest is Santander. I am not sure  where BBVA fits in-it is a relatively new bank.

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12 hours ago, cedros said:

Banco Bilbao Vizcaya Argentaria, S.A., better known by its initialism BBVA, is a Spanish multinational financial services company based in Madrid and Bilbao, Spain. It is one of the largest financial institutions in the world, and is present mainly in Spain, South America, North America, Turkey and Romania. Wikipedia

It is much smaller than HSBC

The largest bank Lakeside is HSBC, second largest is Santander. I am not sure  where BBVA fits in-it is a relatively new bank.

The size of the bank doesn't matter so much as long as they still have your money. Smaller banks tend to fail.

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3 minutes ago, cedros said:

The size of the bank doesn't matter so much as long as they still have your money. Smaller banks tend to fail.

No actually big banks can't fail as governments bail them out.  All banks tend to fail regardless of size but governments save the big ones and let the small ones fail.

Big difference!!

 

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2 hours ago, lcscats said:

No actually big banks can't fail as governments bail them out.  All banks tend to fail regardless of size but governments save the big ones and let the small ones fail.

Big difference!!

 

Most bank don't fail. Many have in the US and Mexico over the years. Rare for a bank in Canada to fail.

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51 minutes ago, Alpha1 said:

That was not a real bank that failed in 1996 but Security Home Mortgage Corporation. As that article says "bank failures are rare in Canada"

 

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23 minutes ago, cedros said:

That was not a real bank that failed in 1996 but Security Home Mortgage Corporation. As that article says "bank failures are rare in Canada"

 

Again...Here are Canadians (and I am half Canadian on my mothers side) going far astray over insignificant minutiae that 99.9% here could give a flying you know what about!!!    

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1 hour ago, gringohombre said:

Again...Here are Canadians (and I am half Canadian on my mothers side) going far astray over insignificant minutiae that 99.9% here could give a flying you know what about!!!    

Who is forcing you to read it? What I am getting at is beware the smaller banks.

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18 minutes ago, gringohombre said:

Bancomer is hardly a small bank...and all the hoopla was about Canadian banks. Nothing to do with México. 

Bancomer is a relatively small bank and new  but much larger than others. For nonmexicans their home country banks have a lot to do with Mexico.

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It appears all branch signage has been changed from Bancomer to BBVA. The web portal used to be bancomer.com but has been changed to bbva.mx. Using the old URL causes a redirect to the new one.

The bank was always known as BBVA Bancomer. There must have been a corporate reason to drop the Bancomer part.

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3 hours ago, rckrckr said:

Not focusing on parent institutions, BBVA México is the largest bank in Mexico. 

But maybe one should focus on parent institutions as most Mexican banks don't have a very good reputations. Where is the backup?

If you are just using a Mexican bank for it's ATMs and keeping most of you money out of Mexico it probably doesn't matter a lot. I first used Banamex then Bancomer and now HSBC as they give me the best deal.

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5 minutes ago, cedros said:

But maybe one should focus on parent institutions as most Mexican banks don't have a very good reputations. Where is the backup?

This thread is going crazy...Like I said and rckrcr confirmed, BBVA (Bancomer) is "the largest bank in Mexico". I still remember going to the border south of San Diego at San Ysidro in 2007, parking my car at a large parking lot there and crossing the border over the pedestrian bridge to enter Tijuana. I had $US10,000 cash in my pocket to deposit into a new account at Bancomer. I had set up a meeting with the bank manager there, and we successfully completed the transaction and then I walked back across the border to my car to go back home. 6 months later I made my successful final move here and have not looked back. I still sometimes contemplate, that in my blocks walking the TJ streets to the bank, even in those days, if some "bad guy" knew what was in my pocket, where would I be now?      

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21 minutes ago, cedros said:

Maybe some of you aren't aware of the number of pesos crisis this country has had and the large amounts of money many people lost.

https://www.nber.org/papers/w6516.pdfu

The OP was Is "Bancomer now BBVA Ajijic centro?" Again, at the risk of being accused of "going down another road" (that someone else created), I would suspect that the vast majority of expats here are smart enough keep a banking resource in their home countries for the bulk of their financial wealth. You do need some kind of local bank for access to pesos for day to day living expenses, payment of help, etc. 

 

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14 minutes ago, gringohombre said:

The OP was Is "Bancomer now BBVA Ajijic centro?" Again, at the risk of being accused of "going down another road" (that someone else created), I would suspect that the vast majority of expats here are smart enough keep a banking resource in their home countries for the bulk of their financial wealth. You do need some kind of local bank for access to pesos for day to day living expenses, payment of help, etc. 

 

Your statement is incorrect.  Have lived here for almost 10 years total, owned 2 homes here and renovated both of them; have a gardener at our current home.  Never have needed or wanted a local bank.  

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