Spain's Banco Sabadell said Wednesday it planned to make business loans totaling 44 billion pesos (about $2.15 billion) in Mexico this year, up 30 percent from 2016. "Banco Sabadell wants to continue growing at a sustained rate and expanding its presence in the market" in Mexico, "especially in highly urban and industrial areas," the bank said in a statement. Last year, the Spanish banking giant added 360 new customers and doubled its staff in Mexico. The bank has operated in Mexico since 1991, when it opened a representative office in Mexico City, Banco Sabadell's country director, Francesc Noguera, said in a press conference. Banco Sabadell has operated indirectly across Mexico for years via its 20 percent stake in Banco del Bajio. The Spanish banking giant, however, did not start operating as a commercial bank in Mexico until January 2016. In 2016, "we stopped being just a deposit-taking bank and also became a lender," Noguera said. "We were the country's No. 6 bank in net lending and did this with a very rigorous risk management policy that left us with a zero percent non-performing loan situation," Noguera said. Banco Sabadell now expects to "close on total lending of 44 billion pesos and deposits of 3 (billion pesos)" in Mexico, Noguera said. The bank plans to offer a "pretty innovative" digital platform in Mexico, with the launch "expected in October of this year," Noguera said.
Banco Popular has said that it plans to start lending in Mexico in 2018 , and has set a target of making loans totalling MXN44bn ( $ 1 ) throughout the year , up 30 % YoY.