Introduction
As digital financial transactions surge, the number of physical bank branches has stabilized. Meanwhile, automated teller machines (ATMs) continue to show slight growth, and correspondents have seen the most significant increase.
Branch Counts
According to the Annual Financial Inclusion Landscape 2025 report, by the end of 2024, there were a total of 18,295 branches across various financial institutions in the country. This represents a mere 1.0% growth compared to 2023.
The Banco del Bienestar was primarily responsible for this branch growth, establishing 3,144 new ones since 2022. This made it the bank with the highest number of branches and the broadest country coverage.
As a result, nearly four out of five municipalities had at least one branch, and 99% of the country’s adult population resided in these areas.
Sector-wise Breakdown
- Multiple Banking: Held the largest number of branches with 11,843 (65%), led by Banco Azteca with 2,031 branches.
- Development Banking: Had 3,237 branches (18%), with Banco del Bienestar being the most prominent at 3,144 branches.
- Savings and Loan Cooperatives (Socaps): Operated 2,319 branches (13%).
- Popular Financial Societies (Sofipos): Managed 896 branches (5%).
If focusing solely on the banking sector, the number of branches continued to decrease in 2025. According to recent data from the National Banking and Values Commission (CNBV), there were 11,421 branches by October 2025—418 fewer than the same month in 2024.
ATMs
Growth in ATMs: By the end of 2024, there were a total of 69,126 ATMs across all players in the country, marking a 3.1% increase from 2023.
With this figure, 83% of the country’s municipalities had at least one ATM, and 99% of the adult population resided in these areas.
The multiple banking sector dominated ATM ownership, with 64,285 (96%) of the total. BBVA led the pack with 14,439 ATMs, followed by Banorte with 11,284 and Santander with 10,809.
Correspondents
Rise in Correspondents: By the end of 2024, there were 57,624 correspondents, an 8.0% increase from 2023.
Four out of five municipalities, where 99% of the country’s adult population resides, had at least one correspondent. On average, a correspondent is contracted with 10 financial institutions.
Oxxo was the leading correspondent, accounting for nearly half (43%) of all correspondents with 24,568. Yastás (managed by Gentera) followed with 6,374 (11.0%), and Regalii with 5,430 (9%).
Key Questions and Answers
- Q: What is the current state of physical bank branches? A: The number of branches has stabilized, with the Banco del Bienestar being the primary contributor to new branch openings.
- Q: How have ATMs evolved in recent years? A: The number of ATMs has grown by 3.1% from 2023, with multiple banking sector dominating ATM ownership.
- Q: What is the current situation with financial correspondents? A: The number of correspondents has increased by 8.0%, with Oxxo being the leading correspondent.
