“Mexico differs from other economies because it has macroeconomic stability and a robust banking system”: EPN
President Enrique Peña Nieto inaugurated the
79th National Banking Convention “Mexico and Banking: Protagonists
in the New International Economic Order” in the state of Guerrero.
“Banks and the government are united by a shared commitment. We are
clear that the top priority is stability. Stability is
the basis of sustained growth and sustainable development.”
Integration, stability and reforms position Mexico as one of the most
attractive economies in the world for investing and growing in the coming
Financial Reform positively impacts the growth of the economy, supports
the domestic market and improves the everyday life of Mexican families.
Financial reform: Progress 2014-2015
- There is now more, cheaper credit and in better
conditions in Mexico. Credit has grown several times more than the
financial savings increased from 55.8% of GDP in 2012 to 69.3% in
2015, an increase of 13.5 percentage points.
sector financing increased from 25.7% of GDP in 2012 to 30.9% in
2015, an increase of 5.2 percentage points.
- From December 2014 to December 2015, credit
for companies grew 15.6%; with credit for micro enterprises increasing by 17.6%.
loans rose by19.4% over the same period with mortgage loans
increasing by 9%.
- Interest rates are declining, particularly in the case of personal loans, whose rates
have been reduced by up to 8.6 percentage points.
- Credit supply has been accompanied by greater soundness of the banking system. In December 2015, its Capitalization Ratio was 14.96%, similar to the average of the G-20 countries of 15.1%.
- Also in December 2015, the Default
Rate of Commercial Banks was just 2.6%, down from 3.4% in January 2014. This translates into a
well capitalized bank with a healthy credit portfolio level.
“Today, financial reform, in addition to
transforming the financial system itself, is contributing to the transformation
of other areas of national life.”