History Founded on October 15, 1932, the Bank of Commerce in downtown Mexico City, with a business model based on three pillars: customer, supply of financial intermediation, not only-and national expansion through the development of a system of affiliates, which carry the name of Banco Mercantil. So, a few years of being created, the bank was positioning itself as a major bank. During the Second World War, foreign capital flows into Mexico, these deposits would be captured by the banking sector and continue the growth of the bank. In the midst of international problems, the Bank of Commerce became one of the largest financial institutions in the country managed to consolidate its position. By 1946 its deposits had increased fivefold and was among the four largest banks.Entrepreneurial dynamism that emerged in the '50s, growing urbanization and the onset of rapid population growth, increased domestic demand and have led to increased business opportunities for the private sector. On 1 September 1982. national magazine exchange In its latest report of government, President Jose Lopez Portillo announced the expropriation of private banks in Mexico. The nationalization of the banks, including Bancomer, kept the banking system in state hands for nearly ten years. The reprivatization ordered by presidential decree in 1989, began the process of Bancomer with the auction of the institution attended by 44 groups. The principal officials of the Securities Group Monterrey, SA (VAMS) of Eugenio Garza Lag era, thoroughly engaged in analyzing the options. One of them was the then director of the group, Ricardo Guajardo Touche, who eventually directed Bancomer. Another financial participated in the studies was Hector Rangel Domene, president of the bank today. 1.December 1991, the institution was handed over to its new owners, Grupo VAMS, and the next March and would be legally constituted as Grupo Financiero Bancomer. What today is Banco Bilbao Vizcaya Argentaria (BBVA), a Spanish institution who arrived in Mexico in 1991 with a stake in Banco Mercantil Probursa, during the stage of a nationalized banking institutions who achieved greater stock market development and institutionalization, what led her to acquire Commercial Bank of Mexico on June 7, 1991, the first bank that was sold in the re-privatization. Corporate-Probursa Entering with a share of 1 . In 1993, increased to 20 . Years later acquired 70 of Trade-Probursa and in 1996 bought East Bank and Banca Cremi.