LatAm: Positive 2017 start for Mexican banks

By Georgina Galvan, RFi Group

The Mexican banking sector, which comprises 47 banks and financial institutions, experienced strong growth between February 2016 and February 2017, according to figures released by the Mexican National Banking and Securities Commission (CNBV).

The report shows that the total loan portfolio increased 11.7%, reaching 4,341 million MXN balance. Broken down into loan segments growth was seen across the book, with the commercial portfolio increasing by 12%, while consumption and housing also increased, 12% and 10.2% respectively. Deposits also increased, increasing by 16.2%.

These statistics show that the Mexican banking sector continues to perform strongly, despite the uncertain economic environment in Mexico. Continued strong performance from the Mexican banking sector is likely to result in consumer trust in the sector improving. However, RFi Group Mexico Priority & Retail Banking data from the second half of 2016 showed that 49% of Mexican consumers are still concerned that instability in the banking sector could affect them in 2017.

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