translated from Spanish: Asks AMLO help bankers with more branches

ACAPULCO, Guerrero.-President Andrés Manuel López Obrador asked the bankers of the country to support him in the construction of more bank branches.

After the president of the Association of Banks of Mexico, Luis Niño de Rivera, reported that there are 476 municipalities where there is no bank, the Mandatario recalled that the National Defense will help in the construction of 2 thousand 700 headquarters of the Bank of Welfare.

However, he argued during the Banking Convention, his
Government needs more infrastructure to disperse more than 500 billion pesos from its social programs.

“If we can consolidate this banking infrastructure, we’re going to disperse these branches
teachers’ payrolls, the payment of health workers,” he said.

“That private banking can create these branches, and if there is an agreement to create this branch, in remote communities they will have ensured dispersion, we can help these branches always manage resources for the well-being of the people and that these branches can be, at the very least, self-sufficient.”

The plan, he continued, is also that
commissions are low and banks to consolidate their infrastructure, as it considered, in 90% of the national territory they do not have banking services.

“I put that up to you, that we can come to an agreement and we can help expand the banking infrastructure in our country,” he said amid applause from nearly a thousand bankers.

The Representative recalled that the Constitution had already established the delivery of the programs that it now disperses, so that no one would modify it and situations that lead to the pushback.

He recalled that last year, which participated in the convention, the petition was to reduce commissions so that relatives of migrants could make better use of the money sent to them by the connationals.

However, he revealed, only one bank succeeded, so he was confident that next year he could say that two or more joined.

Even López Obrador paraphrased the writer Alvaro Mutis when he gave Pedro Páramo’s novel to Gabriel García Márquez: “Have to learn”.

‘Won’t change game’

The President promised bankers that the rules of the Mexican financial system will not change.

“They’re not going to change the rules of the game. To put it colloquially: there will be no executive-driven reform to change banking in the country. We’re going to maintain the same legal framework,” he said to the unanimous applause.

“If there is any change it will come out of you and always think of the competition. Banks are regulated with banks, merchanting is regulated with the market.”

Original source in Spanish