Banco del Bajío Preps a Leadership Change: Iván Lomelí to Take Over on May 1

The shake-up at the top of Banco del Bajío comes at a time of intense competition for lending and deposits in Mexico.

Banco del Bajío said Iván Lomelí will assume the role of CEO effective May 1, a move aimed at ensuring continuity in the bank’s commercial and operating strategy amid moderate growth and heightened sensitivity to the cost of funding. The appointment will be submitted for approval by the Board of Directors on April 29 as part of the formal process for an orderly transition.

The succession follows the departure of Edgardo del Rincón, who is stepping down after seven years at the helm. The decision comes at a moment when Mexico’s financial system continues to show solid capital and liquidity levels, but faces the challenge of expanding credit without weakening asset quality, while also competing to attract deposits in a market where customers more actively compare yields and fees.

According to corporate information, Lomelí joined Banco del Bajío in 2022 as Executive Director of Business Banking for the metro area, and since January he has expanded his responsibilities to key regions across the country. With more than three decades in the industry, his background is closely tied to corporate and commercial banking—an area where mid-sized banks typically seek differentiation through local presence, faster decision-making, and sector specialization.

Banco del Bajío ranks among the system’s leading players by asset size, with 392.817 billion pesos as of the end of the most recently reported year. Over the same period, its loan portfolio totaled 278.283 billion pesos and net income came in at 9.079 billion pesos—figures that reflect a bank with a meaningful footprint in business lending and in markets outside Mexico City, with deep historical roots in the Bajío region.

A leadership transition amid a high-rate cycle and banking reshuffles

The CEO change comes as Mexico moves through a cycle in which benchmark interest rates have remained elevated in recent years to contain inflationary pressures, making credit more expensive and requiring greater discipline in underwriting and collections. For banks, this environment can support net interest margins if funding costs don’t rise at the same pace, but it also increases default risk in certain segments and weighs on demand for financing—especially among small and mid-sized businesses.

At the same time, Mexico’s banking sector is seeing leadership and strategy adjustments, with institutions strengthening their digital focus, expanding investment-product offerings, and sharpening their value proposition for exporters or companies integrated into regional supply chains. In Banco del Bajío’s case, choosing an executive with a business-banking track record suggests continuity in its core focus, but also the need to fine-tune risk management and operating efficiency to compete with larger banks and with players that have accelerated digitalization.

Another relevant angle is the impact of the regional economic backdrop: the industrial corridor in the Bajío and northern Mexico has benefited from investment tied to manufacturing, logistics, and the relocation of processes, boosting credit needs for working capital, plant expansion, and financial services for suppliers. Still, external volatility and the performance of trade-sensitive industries make it necessary to maintain prudent standards and a careful read of the business cycle.

Looking ahead, the challenge for the new leadership will be to balance growth with profitability: keep credit expanding without loosening standards, strengthen deposit gathering and relationships with business clients, and speed up technology and service improvements. In an environment where Mexico’s economy is advancing unevenly across regions and sectors, execution—more than announcements—will be the key measure of whether this transition succeeds.