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Calling the move "surprising", the transport unit Grupo Mexico Transportes (GMXT.MX) said the Navy had occupied its facilities at the Coatzacoalcos-Medias Aguas section at 6 a.m.(1200 GMT), and that it was weighing up its options. Grupo Mexico Transportes will keep providing services under supervision of the armed forces, it said. The section "expropriated" is about 1.1% of the 11,137 km run by Grupo Mexico's transport division, analysts at brokerage Vector said in a client note. Grupo Mexico, owned by tycoon German Larrea, has been closing in on the acquisition of U.S. Citigroup Inc's retail banking operations in Mexico. Shares in Grupo Mexico were down by more than 4% on Friday afternoon, a drop mirrored by Grupo Mexico Transportes' stock.

MERIDA, Mexico, March 16 (Reuters) - The Mexican arm of Spain's Banco Santander (SAN.MC) plans to launch digital lender Openbank by the end of March 2024 to offer checking accounts, credit cards and other services over time, the head of the local unit said on Thursday. "We need to 'tropicalize' it and make it fit for the Mexican market and regulation," Santander's Mexico country head Felipe Garcia told Reuters in an interview, adding that because the digital bank already operates in Argentina and some European countries the operation will not be starting from scratch. Garcia did not say how much Spain's biggest bank would invest in the move. The unit is Mexico's third-biggest bank by the size of its credit portfolio and managed some 810 billion pesos ($43.23 billion) at the end of last year, according to data from the national banking regulator. ($1 = 18.7385 Mexican pesos)Reporting by Valentine Hilaire and Noe Torres; Editing by Sarah Morland and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

MERIDA, Mexico, March 15 (Reuters) - Mexico's banking system is robust and strong, and has not been affected by last week's sudden collapse of Silicon Valley Bank in the United States, the president of the Mexican banking association (ABM) told Reuters on Wednesday. Fears of contagion sparked a sharp drop in the shares of Mexico's main banks since the collapse, but ABM chief Daniel Becker attributed the price moves to perception and not reality. "It is not uncommon for it to generate nervousness and drag some fear, but this is more due to a domino effect, a perception, than to a reality of what could happen in the Mexican financial sector," Becker said during an interview. After the failure on Friday of Silicon Valley Bank and on Saturday of Signature Bank, the U.S. Federal Reserver created an emergency program to guarantee deposits and try to stem further financial contagion. Reporting by Valentine Hilaire and Noe Torres; Editing by Anthony EspositoOur Standards: The Thomson Reuters Trust Principles.

MERIDA, Mexico, March 15 (Reuters) - Mexico's banking system is robust and strong, and has not been affected by last week's sudden collapse of Silicon Valley Bank in the United States, the president of the Mexican banking association (ABM) told Reuters on Wednesday. Fears of contagion sparked a sharp drop in the shares of Mexico's main banks since the collapse, but ABM chief Daniel Becker attributed the price moves to perception and not reality. After the failure on Friday of Silicon Valley Bank and on Saturday of Signature Bank, the U.S. Federal Reserve created an emergency program to guarantee deposits and try to stem further financial contagion. The Mexican banking system has a "solid" position and entities maintain liquidity levels that "comfortably exceed" the regulatory minimums, based on the Mexican central bank's latest financial stability report. Reporting by Valentine Hilaire and Noe Torres; Editing by Anthony Esposito and Jane MerrimanOur Standards: The Thomson Reuters Trust Principles.

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