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Economy

Economy

18% of consumers are unable to rate the social commitment of companies due to a lack of awareness of the policies and actions that they develop. However, when asked to rate companies based on their performance other fields (products/services, leadership, innovation, etc), this percentage drops by 50%. This is one of the key takeaways of the 2016 CSR RepTrak® 100 report, recently released by consulting firm Reputation Institute within the framework of a webinar, in which BBVA also participated.

Fundamental transformations are underway in the banking and financial industries as a result of the unstoppable technological innovation they face. Demand for digital products and services is on the rise and consumers are adopting them, with greater and greater ease. This significant change in customer habits and in the use of business channels has numerous implications for banks, especially regarding the need to attract people with strong technical skills.

The BBVA Bancomer Tower is not just the colossus that welcomes passersby to Paseo de la Reforma - the city’s most prominent avenue, where also the pre-Hispanic and contemporary Mexicos meet – but it is also a prime example of architectural creativity.

The auto industry is one of the industries with the greatest growth in the Mexican economy because everything from autoparts production to car assembly and its connection to the international market have performed well.

In previous years, we observed growth in this industry and estimated that vehicle production would increase 1,5% in 2016 compared to the previous year, despite a tough start to the year with 3,1% declines in the first half of the year. This represents an increase of approximately 51.000 units. Next year, production could increase to just over 4 million units, which would mean a 17,4% jump in 2017. This would once again put the industry at the forefront of the Mexican economy.

Mexico’s banking market is in the middle of an expansionary period due to demographic factors and the macroeconomic stability that has been attained over recent years. This has produced a growing demand for credit in several different sectors, permitting a positive financing outlook that could reach the equivalent of 40% of Mexico’s Gross Domestic Product (GDP) in the coming years.