Introduction
The financial institutions CAME, Financiera AUXI, and the upcoming Cubo Financiero are grappling with capitalization issues that threaten their financial solvency. These problems have already started affecting their users, and there’s a risk of causing further distress to savers. The question arises: where is the CNBV (National Banking and Securities Commission) in addressing these concerns?
Background on Financial Institutions
CAME and AUXI are significantly larger than FICREA, which previously caused financial distress to many Mexican families. The CNBV has attempted to implement stricter regulations and supervision since the FICREA incident, but concrete actions have yet to be taken.
Regulatory Concerns and Potential Impact
The CNBV needs to enforce stricter regulations and supervision on Sofipos (financial cooperatives) and Sofomes (microfinance institutions). Without proper oversight, these entities may face capital shortages and pose risks to savers.
The current economic slowdown and international volatility have left these institutions vulnerable, as they lack the capital strength to weather such storms.
Banca’s Stability
According to Víctor Manuel Herrera, former Standard & Poor’s director and current IMEF (Mexican Employers’ Confederation) Council President, the banking sector is well-capitalized with good liquidity and a conservative approach to economic adjustments. However, there’s a possibility of entering a recession in the coming year.
While banks are well-prepared to face economic headwinds, some have faced complaints regarding user protection against fraud. Not all banks perform equally in this regard.
Bank Complaints: A Closer Look
The Condusef (National Consumer Defense Commission), led by Oscar Rosado, will soon release official data on bank complaints. Here’s a preview of institutions with high complaint rates:
- HSBC, under Jorge Arce, saw an 18% increase in complaints.
- Banorte, managed by Marcos Ramírez Miguel, experienced a 22% rise.
- Invex, led by Juan Bautista Guichard, saw a significant 228% jump.
- Coppel, headed by Agustín Coppel Luken, reported an 8% increase.
On the other hand, institutions that have performed well and are expected to receive positive evaluations include:
- Banco Azteca, directed by Tonatiuh Rodríguez Gómez.
- BBVA, under Eduardo Osuna.
- Banamex, commanded by Manuel Romo Villafuerte. Although these larger institutions may still see a considerable decrease in complaints, their size implies they should be better equipped to handle them.
