Background on Mifel and its President, Daniel Becker Feldman
Daniel Becker Feldman, the president and CEO of Mifel, a prominent financial group in Mexico, has consistently emphasized the importance of exploring market opportunities that align with their business goals and benefit over 600,000 clients.
Mifel’s Current Focus
In an interview with El Economista, Becker Feldman clarified that Mifel is currently concentrating on organic growth by strengthening its internal businesses, such as corporate, companies, mortgages, payments, and recently, consumer lending.
Past Interests in Banamex and IPO
Following Citigroup’s announcement to sell Banamex in 2022, Mifel, along with other investors, showed interest in participating in the bidding process. However, they eventually decided not to proceed. Becker Feldman had previously mentioned the possibility of pursuing an Initial Public Offering (IPO) to support growth, though no specific timeline was set.
Current Status of IPO and Banamex
Becker Feldman clarified that neither an IPO nor a potential return to the Banamex sale process is imminent. He highlighted that Mifel is constantly exploring opportunities, including recent trips to Europe and the United States to present their banking model, which received positive feedback.
Banamex Conditions and Future Possibilities
Regarding Banamex, Becker Feldman acknowledged that conditions have changed since three years ago. However, he did not rule out the possibility of revisiting the idea if favorable circumstances arise. He emphasized that any decision would depend on whether it adds value to Mifel’s current business model and does not distract from their ongoing operations.
Mifel’s Organic Growth Strategy
Organic Growth Focus:
Becker Feldman stressed that Mifel remains committed to organic growth across its various business segments, including corporate, companies, mortgages, payments, and consumer lending. Recently, they have seen significant growth, adding over 300,000 clients in the past year through their digital platform.
- Mifel’s digital platform offers a 10% annual interest-bearing account with immediate availability, along with other benefits.
- The bank has over 600,000 clients, with a network of 100 owned branches and access to more than 9,000 ATMs through its Multired alliance with other banks.
Future Plans for Credit and Consumer Lending
Mifel plans to continue expanding its credit offerings while carefully entering the consumer lending market. They have recently appointed Enrique Margain, a former executive at HSBC and Scotiabank, to lead these efforts.
Mifel’s Client Base and Access
With over 600,000 clients, Mifel has experienced substantial growth, particularly with the launch of its digital platform. Clients can access their services through Mifel’s 100 owned branches or more than 9,000 ATMs via the Multired alliance with other banks.
