Santander puts on his (prosecutor) shirt and says that the change will not hurt… your pockets
It seems that the government is looking under fiscal rocks, and this time it was the banks’ turn. The possible elimination of tax deductions for the fees that banks pay to the Institute for the Protection of Bank Savings (IPAB) in the 2026 economic package sounds like it will hurt their wallets. But, in an unexpected turn that reminds us of that friend who always pays the bill without making a drama, Santander México has come out to say: “don’t worry, we’ll absorb it.”
Felipe García Ascencio, the general director of the institution, said the phrase that we all wanted to hear: basically, that they understand the priorities of the government (as if they had a choice) and that, with the resignation of someone who follows the rules of a family board game, they are going to “follow the fiscal regime that suits them.” His statement, which borders on “well, what are we going to do”, was clear: “Clearly we will be contributors and we don’t see an issue”. I mean, there’s no problem, apparently.
One would expect that such a blow would end up filtering out, as an increase in commissions disguised as an “improvement in service”, but the bank insists that this impact, which by the way is an important number (1,165 million pesos only in the second quarter of 2025, so Santander was the third bank that dropped the most), will not be a problem for clients. It sounds good, but it also sounds like that “trust me” thing someone says to you right before everything gets complicated. Time will tell if this promise ages like milk or fine wine.
Tuiio, scholarships and the side hustle of financial inclusion
Meanwhile, in the parallel universe of social responsibility initiatives (the one that all corporations have so that we don’t hate them so much), Santander was handing out scholarships as if they were samples at Costco. All this happened within the framework of Tuiio, its flagship financial inclusion project that sounds like that app that we should all have but that no one explains to us well how it works.
The thing is that Tuiio is not just a pretty name. In almost eight years of existence, they claim to have served more than 622 thousand clients, of which 87% are women. And it’s not just about opening accounts, they say they have generated more than 17.6 billion pesos in credits, mainly for productive projects led by, guess what, women. Basically, it is Santander’s empowering side hustle.
But the important event of the day was the delivery of the 25 university scholarships of the first call “Santander Tuiio accompanies you scholarships.” With an investment of 1.8 million pesos, the idea is to support the children of Tuiio clients so that they do not abandon university. Of 859 applications, they selected 25 lucky people who will receive nine thousand pesos per semester as long as they maintain an average of 8.0. In other words, academic pressure is included in the package.
Norma Castro, the executive director of financial inclusion of the bank and head of Tuiiounique opportunity for young people from entrepreneurial families with fair wool. The ultimate goal, beyond the photo with the giant check, is to ensure their university career and generate a positive domino effect in their communities. It sounds ambitious, almost like the plot of a Netflix series about self-improvement.
In summary, Santander’s day was a roller coaster of news: on the one hand, the phantom threat of a tax reform that could make them a good ticket, and on the other, the staging of their social programs. It’s that modern corporate duality of “we suffer with taxes, but we spread hope (and scholarships).” Will it be enough to keep the public’s faith? Like everything in adult life, the answer is: it depends.
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