After the nationalization and privatization trends of the ‘80s and ‘90s, the banking and finance sector in Mexico now represents 17.6 percent of the country’s GDP, with continued growth in recent years, especially after the emergence of international banks. However, the market faces a number of challenges, mostly related to the general population’s lack of access to the banking system. The large number of people in informal jobs, prevents banks from reaching 61 percent of the entire Mexican population, a situation that is starting to change with the appearance of the fintech ecosystem. Though the country has managed to establish solid macroeconomic foundations, international political and economic turmoil pose risks to the system’s stability.
FINANCE & BANKING