Overview
- BBVA’s chairman Carlos Torres Vila said Mexico’s greatest barrier to faster growth is low private investment and BBVA reaffirmed a MXN 100 billion commitment through 2030 that will go largely to technology.
- Executives said AI could make the bank’s budget 25% to 30% more effective, with some uses reaching up to 50%, and BBVA is rolling out AI agents for clients and staff after striking partnerships with OpenAI and Google’s Gemini.
- Torres Vila said Mexico is well placed to win factory and supply-chain moves tied to the USMCA trade deal, and he expects the country to keep privileged access to the US market as rules are reviewed.
- He pointed to obstacles that must be fixed to unlock that potential, including insecurity, a large informal economy, gaps in roads and energy, and scarce credit for small firms, with financing near 35% of GDP and fewer than one in ten SMEs holding a bank loan.
- Reporters noted fresh climate and geopolitical risks that could blunt gains, with BBVA warning about fallout from any Strait of Hormuz disruption and local insurers facing higher payouts after last year’s 72% jump in weather-related claims tied to El Niño.