Mexican Looks to IPO

Mexico’s BanBajio is planning an IPO, likely in 2014, according to a person following the process. The lender has hired Bank of America Merrill Lynch, BBVA, Citi and Morgan Stanley to manage. The bank specializes in SME, consumer credit and mortgage financing. Last year a group of international investors including Singapore’s Temasek bought a 20% stake in Bajio for $208m, in a transaction representing the exit of Spain’s Banco Sabadell.