What Will 2010 Yield For Mexico's Banking Industry?

The head of HSBC's Mexican unit, Luis Pena, said Dec. 2 that he expects a return to growth at Grupo Financiero HSBC as the country emerges from its recession, suggesting that although Mexico's recovery will be slow, '2010 will be better than 2009.' Will Mexico's banks indeed see growth next year? If so, how strong will that improvement be and which banks are best positioned for growth? How are new entrants in the financial sector like Walmex having an effect?

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