Key Players in Mexican Business Financing
BBVA, Banorte, and Santander are the leading banks in Mexico when it comes to extending credit to businesses, including micro, small, and medium-sized enterprises (MSEs).
Credit Portfolio Overview
According to the Mexican National Banking and Securities Commission (CNBV), the total credit portfolio for businesses in Mexican banking exceeded 3.64 billion pesos by July of the previous year.
At that time, over 1.4 million credit instruments and nearly 280,000 accredited entities were recorded in this segment.
Top Credit Providers
BBVA’s Mexican subsidiary held the largest credit portfolio for businesses, with approximately 845.46 billion pesos, accounting for roughly a quarter of the total financing.
Following BBVA, Banorte had a credit portfolio worth 454.63 billion pesos, while Santander held 389.70 billion pesos.
Together, these three banks provided nearly 1.69 trillion pesos in business credit by July of the current year, which accounts for almost half of the total.
Other Major Players
Inbursa followed with a credit portfolio of 284.96 billion pesos for businesses, while HSBC and BanBajío held 222.71 billion pesos and 214.75 billion pesos, respectively.
These six banks collectively held a credit portfolio worth over 2.4 trillion pesos for businesses.
Focus on MSE Credit
Increased Credit for MSEs Sought
The current administration, led by President Claudia Sheinbaum, has emphasized the need to increase formal credit for MSEs. In response, the banking sector has committed to ensuring that 30% of MSEs have access to formal financing by 2030.
Working groups for this program have already started.
Low Credit Levels for MSEs
Despite these efforts, credit for the smallest businesses in Mexico remains low. Of the 3.64 billion pesos that made up the business credit portfolio by July, 2.7 billion were allocated to large companies, while only about a fifth, 517.96 billion pesos, went to MSEs.
Credit Leaders Among Small Businesses
Within the small business segment, BBVA, Banorte, and Santander led the way in credit provision, with 178.22 billion pesos, 72.60 billion pesos, and 63.32 billion pesos, respectively, according to the CNBV.
BanBajío ranked fourth in this segment with 43.63 billion pesos.
Credit Distribution by Business Size
As per the CNBV data, in the large business segment, there were 13,132 accredited entities and a total of 904,204 credits by July’s end.
In contrast, MSEs had 268,235 accredited entities and 509,295 credits during the same period.
Key Questions and Answers
- Who are the leading banks in Mexico for business credit? BBVA, Banorte, and Santander are the top providers of business credit in Mexico.
- What percentage of the total business credit portfolio do these banks hold? Together, they account for almost half (48.5%) of the total business credit portfolio in Mexico.
- What is the current administration’s goal regarding credit for MSEs? The administration aims to ensure that 30% of MSEs have access to formal financing by 2030.
- How much of the business credit portfolio is allocated to MSEs compared to large companies? Approximately a fifth (21.5%) of the business credit portfolio is directed towards MSEs, while 78.5% goes to large companies.
