October 23, 2018 / 2:33 AM / a year ago

Mexico's next president vows security for banks in Santander meeting

Mexico's President-elect Andres Manuel Lopez Obrador talks to supporters as he continues with his tour to thank supporters for his victory in the July 1 election in Monterrey, Mexico October 19, 2018. REUTERS/Daniel Becerril/File Photo

MEXICO CITY (Reuters) - Mexican President-elect Andres Manuel Lopez Obrador on Monday told the chair of Banco Santander, Spain’s biggest bank, that his government will create a safe environment for banks, aimed at encouraging foreign investment.

The leftist, set to take office Dec. 1, has repeatedly sought to reassure investors that his policies will not threaten business or the economy.

“The domestic banks, the foreign banks, will have security during our government, because we need the investment,” he said in a video posted to Twitter, in which he stands next to Santander Executive Chair Ana Botin.

Santander (SAN.MC), whose local unit (BSMXB.MX) is listed on Mexico’s stock exchange, committed to invest 15 billion pesos ($773 million) in Mexico between 2017 and 2019, making it among the group’s largest investments worldwide.

Botin said she met with Santander clients on Monday and that the bank plans to keep investing in Mexico.

“We fully trust that the incoming government will keep supporting development in Mexico, and can count on Santander,” she said in the video posted to Twitter.

Reporting by Daina Beth Solomon; Editing by Michael Perry

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