Banorte will promote social nearshoring

Despite the global economic slowdown, Mexico has a historical opportunity—nearshoring—that it needs to take advantage of.

Carlos Hank González, president of the Board of Administration of Financial Banorte Group, believed that Mexico would benefit from the process of business relocation to countries closer to the final consumer centers due to its advantageous geographic location as well as its competitive manufacturing and labor costs.

In an interview, he indicated that nearshoring must be approached with a social focus in order to be beneficial for the country.

«Nearshoring should benefit all Mexicans, not just a few, but it should truly bring benefits to large companies, very small companies, medium-sized companies, and small companies. The benefits should not only remain in the north and center of the country, but should also be transferred to the south and southeast of the country.» said Carlos Hank.

He said that in order to accomplish this, the Mexican bank is prepared to help the local governments build the infrastructure they need to take advantage of this opportunity.

This year, Banorte’s goal is to become the leading bank for digital services.

«We have achieved a very important transformation of our institution so that all our customers can make transactions through digital banking, and we are even the only bank where you can now open an account from scratch through your cell phone without having to go to a branch.» Carlos Hank Gonzalez said.