MEXICO CITY, Nov 28 (Reuters) - Bank of America ( BAC ) is

bullish on its future in Mexico, according to the head of the

bank's unit in the country, and stands to benefit from the

so-called "nearshoring" trend even after threats of tariffs on

exports to the U.S. by President-elect Donald Trump.

WHY IT'S IMPORTANT

Trump's threat earlier this week to slap tariffs on Mexico

and Canada has roiled markets and clouded the horizon for

investments by multinational firms into the region.

The three countries are part of a regional trade agreement

known as the USMCA, which is up for review in 2026. The

neighboring nations, particularly the U.S. and Mexico, are

heavily reliant on imports and exports from the other country.

KEY QUOTES

"It will be very difficult for uncertainties, either

internal or external effects to alter or modify the

opportunities that we see in Mexico," said Bank of America's ( BAC )

Mexico head, Emilio Romano, in a press briefing.

"We believe that the nearshoring or friendshoring phenomenon

will not be reversed," he said, referring to the trend in which

large multinationals have moved operations to Latin America's

No. 2 economy.

"Mexico will not deviate from this North American economic

integration, there is no turning back."

BY THE NUMBERS

Bank of America ( BAC ) expects to double its revenue and client

volume in Mexico within the next five years, Romano said.

The firm's client base should grow from 400 to 800,

according to the executive. In Mexico, BofA offers institutional

banking services and does not serve individual clients.

Romano declined to provide more detail about the bank's

revenue outlook.

WHAT'S NEXT

Trump's tariff threats will continue to generate market

volatility, Romano said. However, he cautioned that they were

likely a bargaining strategy by Trump to kick off trade

negotiates and unlikely to actually be imposed.