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DJ Mexico Bank BBVA Bancomer To Build New Offices For $900M

DJ Mexico Bank BBVA Bancomer To Build New Offices For $900M MEXICO CITY (Dow Jones)--Mexico's largest bank, Grupo Financiero BBVA Bancomer SA, said Monday it plans to spend $900 million to build two new office buildings to consolidate its presence in the capital city. "We are going to invest $900 million that will create about 14,000 direct and indirect jobs in the next three years," said Ignacio Deschamps, the bank's chief executive. Deschamps said construction will start later this year, with both projects to be finished by the end of 2012. BBVA Bancomer, a unit of Spain's Banco Bilbao Vizcaya Argentaria SA (BBV), is a major profit center for the parent company, accounting for 36% of its net profit of EUR5.02 billion ($7.02 billion) last year. -By Ken Parks, Dow Jones Newswires; 52-55-5001-5723; ken.parks@dowjones.com
Published Tuesday, July 7, 2009 1:10 PM by Zinnia Q.

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# DJ Mexico Bank BBVA Bancomer To Build New Offices For $900M | Mexican Real Estate

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