The image change process in Mexico will culminate in the coming days, definitively burying Bancomer and concluding the adaptation to the new global ‘look’. The Spanish group that, in order to unify its brand, except in Turkey, will be renamed BBVA México, completely eliminating the distinctive by which its subsidiary has been known to date. In the rest of the geographies, the plan had already ended, according to sources from the entity.
On the 20th, this modification will take place in the Aztec country, at which time the contracts, vouchers, account statements, cards and other documents will also be updated so that Bancomer disappears and the new name reads. The entity highlights that it does not imply any alteration in the conditions of the products and services contracted by customers.
The brand change began in mid-2019, with the progressive incorporation of the new identity in all corporate buildings, the office network and the materials used for operations. Then the project also began in the rest of the foreign franchises. Thus, it began to dispense with local designations (French, in Argentina; Continental, in Peru; and Compass, in the US). , money to be used for. Then, it also modified the image of the Turkish company, which was renamed Garanti BBVA, being the only subsidiary that retains its original name.
The project was the first of great importance promoted by the new president of the group, Carlos Torres, and according to the objectives explained, his priority was the enhancement of a unique and homogeneous proposal and experience in all geographies, “characteristic of a company digital”. “A common brand is the natural step at this time,” Torres said then.
The plan, the cost of which has not been disclosed, also affected Spain, since the bank decided to modify its logo to use it throughout the world, which has meant replacing all the signage. A little over a year ago, BBVA pointed out that the implementation of the new identity in corporate buildings in our country exceeded 90%, and in more than 75% of the offices. Now the adaptation is complete, despite the pandemic and the logistical difficulties derived from it.
44 years of history
Mexico is the great granary of profits for the Spanish bank. It contributes more than half of the profits and has been essential for the group’s sustainability in recent years, especially in the past financial crisis.
With the change in the corporate name, Bancomer puts an end to 44 years of history, although its trajectory dates back to the 1930s. It was in 1977 when it began to be called Bancomer, leaving behind its former name, Banco de Comercio. Since 2002 it has been a subsidiary of BBVA, after it took control of the shareholding. Two years later he took the entire capital.
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