MEXICO CITY, May 9 (Reuters) -
Mexican lender Bankaool expects to debut on the U.S. stock
market by early 2026, a top executive said, as parent company
Grupo OMNi looks to raise money to fund the lender's growth.
Bankaool, a small lender which currently holds some 0.1% of
the country's financial assets, has focused on its
business-to-business segment but is now betting on rapid growth
from consumer borrowers through a mobile application.
Moises Chaves, the lender's deputy chief executive, told
Reuters the company hoped the debut would "continue
strengthening the bank's scale and operations."
Bankaool, based in the northern state of Chihuahua, expects
to finish 2024 with two million digital platform users on the
app it launched last November, up from the 75,000 it currently
has. It also hopes to add new branches throughout the country.
"If we do our job well with the app, no one will have to
enter the branches, but we do not want to lose that capacity and
we want roots in all areas," Chaves said. The bank currently
counts 22 branches in Chihuahua and one in Mexico City.
The bank is also in the process of buying a U.S. lender in
order to lend to U.S. companies planning to build manufacturing
capacity in Mexico and to serve Mexicans living abroad who are
sending increasing amounts of money back to their home country.
Chaves did not give further information on the deal, but
said the company planned to continue to "follow the migrant
route."
"If the data shows us that after Mexico, the most important
market for remittances is El Salvador, then we would open
operations there, by acquiring a bank and so on," he said.
Bankaool was acquired last year by Grupo OMNi, a
U.S.-registered tech firm of Costa Rican origin. The company has
invested around $138 million in boosting Bankaool's finances and
digital capacity.