08:04 AM EST, 11/29/2024 (MT Newswires) -- Bank of America ( BAC ) is optimistic about its long-term future in Mexico due to the nearshoring trend despite President-elect Donald Trump's plan to impose tariffs on Mexico, Reuters reported Thursday, citing Bank of America's ( BAC ) Mexico head Emilio Romano.

Romano reportedly said that external and internal uncertainties are unlikely to change the opportunities that the bank expects from the Mexican market.

The bank expects to double its revenue and client base in Mexico over the next five years, the report said.

Bank of America ( BAC ) did not immediately respond to a request for comment from MT Newswires.

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