Introduction
In the second quarter of 2025, Mexican commercial banks paid a total of over 9,503 million pesos in contributions to the Instituto para la Protección al Ahorro Bancario (IPAB). This amount, combined with the first quarter’s contributions, brings the total to nearly 19,000 million pesos for the first half of the year.
Key Contribution Banks
The three largest Mexican banks, BBVA, Banorte, and Santander, are the primary contributors to the IPAB. These banks pay regular contributions that the IPAB uses to manage deposit insurance for bank customers and service the debt from a 30-year-old bank rescue.
- BBVA: Contributed over 2,202 million pesos in Q2 2025.
- Banorte: Contributed more than 1,275 million pesos in Q2 2025.
- Santander: Contributed over 1,165 million pesos in Q2 2025.
Together, these three banks accounted for nearly half of the total contributions in Q2 2025, totaling over 4,600 million pesos.
Following these top contributors are Banamex (735 million pesos), HSBC (638 million pesos), Scotiabank (586 million pesos), and Inbursa (453 million pesos). The seven major banks, known as the “G7,” contributed around 7,000 million pesos to the IPAB in Q2 2025.
Historical Contributions
According to the IPAB’s annual report for 2024, total contributions from Mexican banks to the IPAB between 1999 and 2024 amounted to 387,957 million pesos. This growth represents an average nominal growth of 8.69% and real growth of 3.88% per year.
The report highlights the significant contribution in 2024, when traditional collection methods (due to high-interest rates) led to the highest amount ever collected by the IPAB—35,074 million pesos that year. This growth translated to a nominal growth of 9.0% and real growth of 4.60%.
The report details annual contributions: 24,508 million pesos in 2019, 27,973 million pesos in 2020, 27,994 million pesos in 2021, 30,165 million pesos in 2022, 32,177 million pesos in 2023, and 35,074 million pesos in 2024. With nearly 19,000 million pesos contributed in the first half of 2025, the total could reach a new record by year-end if trends continue.
Tax Deduction Changes
The Mexican federal government, through the Secretariat of Finance, proposed ending tax deductions for bank contributions to the IPAB starting in 2026. This move aims to align Mexico’s practices with those of other countries.
“We are also harmonizing with other jurisdictions. For example, in the United States, Canada, and most jurisdictions, including the U.S., contributions to equivalent organizations are not tax-deductible from the taxable base,” explained Finance Secretary Edgar Amador during a recent press conference on the 2026 Economic Package.
“Most Mexican banking is international banking with concurrent tax legislations in the places where they operate,” he added. “This is an alignment with international standards.” This change could potentially recover around 10,000 million pesos annually.
Key Questions and Answers
- What is the IPAB? The Instituto para la Protección al Ahorro Bancario (IPAB) is a Mexican organization responsible for managing deposit insurance for bank customers and servicing the debt from a 30-year-old bank rescue.
- Which banks contribute the most to the IPAB? BBVA, Banorte, and Santander are the largest contributors to the IPAB.
- Why are tax deductions for IPAB contributions being ended? The Mexican government aims to align its practices with those of other countries, such as the United States and Canada, where IPAB-equivalent contributions are not tax-deductible.
- How much have Mexican banks contributed to the IPAB historically? Between 1999 and 2024, Mexican banks have contributed a total of 387,957 million pesos to the IPAB.
