Mexico, the most attractive country in Latin America for investment: Banco Santander
Mexico is currently the most attractive country in Latin America to make investments. In general, the region presents the most opportunities on a global scale, despite the effect of the crisis that has caused Covid-19, said Ana Botín, executive president of Banco Santander.
"I am surprised that the United States does not look more to the south...(the investment fund), the BlackRock fund was on the board of Santander in Mexico and was able to explain to us how investors around the world see Mexico and Latin America... There is a fantastic opportunity, consumption is growing," said Botin.
Participating in the Santander 2020 International Banking Conference with Larry Fink, president, and CEO of BlackRock -one of the largest investment funds in the world-, the president of the Spanish bank indicated that due to the current context, Europe has lower growth levels than the Americas and highlighted the combination of growth and stability offered by the countries of this continent.
For us Latin America is a tremendously attractive market: 600 million people, 300 million without a bank account, we are seeing an increase in digital banking activities throughout the region, we are growing in general terms, there is more demand for loans with lower rates, so it is a very attractive market.
While Botín acknowledged that there is a need for efforts in LA's financial institutions, the opportunity to invest is fantastic.
The moment of truth
For his part, Larry Fink insisted that Mexico is the country that offers the best investment opportunities worldwide.
Mexico is one of the great investment opportunities now in the world. Colombia is improving as an investment destination; Brazil has very big ups and downs and we expect less volatility, but it will be a fabulous place; also Chile is very solid, he said.
He considered that in Argentina it will take time for the private industry to regain the confidence to channel resources.
"In Argentina, we see a government that is trying to introduce a very significant change in the political direction of the country, they are going to restructure the debt with the private sector, there is enormous volatility, they jump from one policy to another, each government has enormous ambitions, but, at the moment of truth, everything falls on foreign investors... It is going to take time for private investment to return to Argentina".