Spanish heavyweight bank,Santander,expressed its confidence last week that the
worse of the crisis is over,and the Mexican economy will recover alongside the
Speaking at their half-year results presentation,
Santander's CEO,Alfredo Sáenz,said although Santander's profits in Mexico were
down 29% compared with last year,he was still optimistic,as the Mexican
economy is interlinked with the USA and should follow the recovery of its
northern neighbor at the end of this year.
He said that after the
"perfect storm" of the global financial crisis and flu scare in Mexico,
Santander sees no reasons for concern.