BBVA Bamcomer, a subsidiary of Spain-based BBVA, has announced a multi-million dollar contract to maintain and refurbish security in its 2,000 Mexican branches.

Under the deal Swedish security specialists Gunnebo will be responsible for improving the process of cash handling, surveillance systems and entrance controls.

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The move by BBVA Bancomer, Mexico’s biggest bank by deposits and loan portfolio, marked a growing confidence in Mexico’s growth prospects.

The deal is part of an investment plan by BBVA. The bank, which has been affected by recession in its home Spanish market, announced in March a three-year plan to invest $1.5bn in new technology and $1.3bn in upgrading its Mexican branches.

Carlos Sanroma, Security Manager of BBVA Bancomer, said the contract accelerated BBVA’s process of consolidation in Mexico. "With this order BBVA is emphasising its commitment with the continuous improvement of bank security," he said.

The three-year contract is a welcome addition to the company’s presence in Mexico, where it has already provided security technology at the Mexico-US border.

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"This order is a milestone for Gunnebo’s development in South America," Gunnebo President Per Borgvall said. "With this contract, Gunnebo consolidates its position as a full-scale security partner for banks also in Mexico."

 

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