Mexico Optimism: BBVA Announces $3.5 Billion Investment Plan

Standing in front of a white panel that said, “BBVA Bancomer Plan de Inversion,” BBVA’s Executive Chairman, Francisco Gonzalez, and Mexico’s president, Enrique Peña Nieto, announced that the Spanish bank would invest $3.5 billion in Mexico by 2016. After writing off losses on assets tied to the Spanish housing market, BBVA earned €1.6 billion in 2012, a 44 percent drop from its 2011 results.

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