Mexico: 57% of the Municipalities Have No Bank

Sep 2010
Mexico City, Mexico, September, 22 2010 - Despite the penetration of popular credit and savings institutions, more than half of the country's municipalities do not financial branch of any kind, informed the president of the National Banking and Securities Commission (CNBV), Guillermo Babatz.

He said that from 2,456 municipalities, only 1,052 are covered by some financial institution, which represents 43% according to the second Report of Financial Inclusion.

At the end of March this year, the state of Nuevo Leon is ranked in the first place with 2.81 branches per each 10,000 inhabitants.

However, the official stressed that the branches demographic indicator increases dramatically by going from 1.37 to 1.77 branches per each ten thousand inhabitants, thanks to the incorporation of the savings and popular credit institutions and to more than 300 service offices called “Compartamos”.

He explained that the total 13,580 branches owned by regulated institutions, 11,235 correspond to the commercial banks equivalent to 83%; 548 are development banks; 1,029 are cooperative and 768 microfinance.

Source : E-mid

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