How it started
History
The Mexican banking group Grupo Financiero InverMexico was founded in 1991. In 1997, the group was renamed Grupo Financiero Santander Mexicano, after the group was acquired by Banco Santander. In 1998, the group merged with Grupo Financiero Santander Mexico. In 2000, the group merged with sister group Grupo Financiero Serfin. The group was renamed to Grupo Financiero Santander Serfin in 2001.
In 2003, Bank of America purchased 24.9% stake of the group from parent company Banco Santander of Spain. In 2006, the group renamed again as Grupo Financiero Santander, S.A. de C.V. and later that year as Grupo Financiero Santander, S.A.B. de C.V. (publicly traded variable capital corporation).
From Wikipedia’s article on Banco Santander México, S.A., shared under CC BY-SA 4.0.2