MEXICO CITY, Oct. 10, 2017 /PRNewswire/ -- Grupo Financiero Santander México, S.A.B. de C.V. (BMV: SANMEX; NYSE: BSMX) ("Santander México" or the "Group") has made available to its analysts and investors, the presentation by its CEO Mr. Héctor Grisi Checa for its "2017 Strategy Update" held on October 10 in New York City by its parent company, Banco Santander, S.A.
The presentation is available at the following link: http://www.santander.com.mx/ir/ingles/presentaciones/.
The presentation released by Banco Santander, S.A. contains financial information and certain targets for selected indicators (the "Selected Indicators") of the Group and Banco Santander (México), S.A. Institución de Banca Múltiple, Grupo Financiero Santander México (the "Bank"), including 2018, which are based on assumptions believed by Santander Mexico's management to be reasonable. However, the financial figures included in the presentation are presented under accounting principles that differ from Mexican Banking GAAP. For example, cost of risk under Mexican Banking GAAP is calculated including recoveries and therefore would be higher if presented under Mexican Banking GAAP. In addition, Mexican Banking GAAP requires inclusion of IPAB contributions as part of expenses, which impacts the efficiency ratio as calculated under Mexican Banking GAAP. Therefore, these financial figures and other financial figures included in the presentation are not entirely comparable to those published by Santander Mexico in its annual report on Form 20-F under IFRS or the financial statements published locally in Mexico by the Group and the Bank under Mexican Banking GAAP. Neither the Group nor the Bank has published any forecast of similar financial targets for the Selected Indicators in IFRS or Mexican Banking GAAP.
About Grupo Financiero Santander México
Grupo Financiero Santander México, S.A.B. de C.V. (Santander México), one of Mexico's leading financial services holding companies, provides a wide range of financial and related services, including retail and commercial banking, securities brokerage, financial advisory and other related investment activities. Santander México offers a multichannel financial services platform focused on mid- to high-income individuals and small- to medium-sized enterprises, while also providing integrated financial services to larger multinational companies in Mexico. As of June 30th, 2017, Santander México had total assets of Ps.1,209 billion under Mexican Banking GAAP and more than 14.3 million customers. Headquartered in Mexico City, the Company operates 1,075 branches and 324 offices nationwide and has a total of 17,209 employees.
SOURCE Grupo Financiero Santander Mexico, S.A.B. de C.V.