Spain's Banco Sabadell is looking into setting up shop in Mexico with its own banking operation, saying it could be a springboard for its internationalization plans in Latin America.
Chairman Josep Oliu told Spanish financial daily Expansion that the bank's proposed expansion into Mexico would be a key part of its 2014-2016 strategic plan, to be unveiled early next year.
Sabadell, Spain's fourth-largest banking group, exited the Mexican market a year and a half ago after selling its 20 percent stake in Banco del Bajio.
"Now we're studying the possibility of launching banking activities in Mexico from zero, as our own project," Oliu said.
Sabadell unveiled its Mexico plans two months after a pair of leading Latin American investors - Colombian Jaime Gilinski and Mexican David Martinez - took stakes in the company as part of a capital increase. EFE