ESTEPONA, Spain - Mexico can be more flexible in opening its financial sector to foreigners, although it has to be careful not to lose competitive advantage, the president of the country's largest bank said.

"I think we could advance at a quicker pace, especially as U.S. banks are right now focusing more on survival at home than expansion abroad," Roberto Hernandez, president of Banamex-Accival, at a seminar.

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