BBVA Bancomer/2018 Annual Report
History
1932
Bancomer is founded
in Mexico City under
the name Banco de
Comercio.
2017
1997
Privatization of the
banking sector. The
Bancomer Financial
Group (GFB) is formed
and regains control of
Bancomer.
1996
Afore Bancomer
and Seguros
Bancomer are
created.
The Mexican
government nationalizes
the banking sector,
including Bancomer.
The money transfer business,
known as Bancomer Transfer
Services, is created.
1982
Sale of subsidiaries
of Bancomer USA.
1995
2013
Pensiones
Bancomer is
created.
1997
2009
BBVA Bancomer (the
acquirer) and BBVA
Servicios (the target)
merge.
Hipotecaria Nacional,
BETESE and Desitel are
merged with the Bank.
2016
Subsidiary company Afore
BBVA Bancomer is sold to
Afore XXI Banorte.
GFBB consolidates its
shareholding in Seguros
BBVA Bancomer by reaching
a stake of 99.99%.
Banco Bilbao Vizcaya
Argentaria, S.A. reaches
an agreement with Afore
XXI Banorte, S.A. de C.V. to
sell shares in Afore BBVA
Bancomer, S.A. de C.V.
20
20
2012
2000
BBVA capitalizes
Bancomer with USD 1.40
billion, thus creating Grupo
Financiero BBVA Bancomer
(GFBB).
GFBB acquires Banca Promex
and consolidates its position
as the largest financial
institution in Mexico.
GFBB becomes the
subsidiary controlling
company of BBVA.
2002
2004
Following the deal,
BBVA achieves total
ownership of 98.88%.
GFBB acquires Hipotecaria
Nacional, an important mortgage
institution, which on joining the
Bancomer mortgage network
becomes the Banca Hipotecaria arm
(Mortgage Banking), comprising
120 specialized branches.
2005
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