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 Business News | December 2006 
Border Offers Banking Inroads
 kwtx.com
The president of Inter National Bank in McAllen has spent recent weeks just over the border in Mexico to talk about banking in the US.
Carlos Garza has been promoting cross-border banking.
Garza's customers can write checks, get a mortgage and deposit or withdraw money at branches or ATMs on either side of the border and they can easily transfer funds from the US to relatives in Mexico.
The Associated Press reports that Banorte, which recently acquired Inter National Bank, is the first Mexican financial institution to offer branch access in the US.
San Antonio-based Cullen/Frost Bankers this year wedged its way into the area by purchasing Alamo Bank of Texas and its 15 Rio Grande Valley branches.
McAllen and Brownsville are hubs of a bi-national region growing fast in the wake of the North American Free Trade Agreement.
Raymond Jenkins with Frost Bank says the Valley is probably what the Dallas-Fort Worth area was 25 or 30 years ago.
Jenkins cited large growth rates and very young citizenship, calling it "kind of the last frontier." |
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