Study Results at 88th Banking Convention
During the recent 88th Banking Convention, the Center for Economic and Social Yearly Studies (CEEY) presented the findings of their study, “Social Mobility in Mexico 2025: The Path to Financial Inclusion.” Based on the ESRU Survey of Social Mobility in Mexico 2023 (ESRU-EMOVI 2023), the report reveals a positive correlation between an individual’s financial inclusion status and their upward social mobility. However, it also highlights that financial inclusion is largely inherited, limiting its positive impact on life outcomes to a smaller population segment.
The Current Scenario
On the positive side, the proportion of financially included individuals is now 2.5 times higher than in the previous generation. Unfortunately, those with financially excluded parents have only seven times the likelihood of being financially included compared to those with financially included parents. This disparity is crucial, as it significantly impacts the economic success of Mexican citizens from the 40% of low-income households.
- Among those with financially included parents, 13 out of 100 ascend to the top 20% of the social ladder.
- In contrast, only 4 out of 100 from financially excluded parent backgrounds achieve similar upward mobility.
Gender Disparity in Financial Inclusion
The study also reveals a gender gap in financial inclusion among individuals from the lowest 40% of the socioeconomic ladder. While 22 out of 100 financially included sons of financially included fathers reach the top 20% of the social ladder, only 7 out of 100 financially included daughters with the same parental financial inclusion status achieve this.
- This disparity implies that 15 out of 100 financially included daughters with financially included fathers are left out, despite their potential to climb the social ladder.
Commitment to Social Mobility by ABM President
During his inauguration as president of the Mexican Banks Association (ABM), Emilio Romano pledged to promote banking that fosters social mobility. He emphasized the need for financial institutions to serve as allies in building a better future for every individual, regardless of their background. Romano also highlighted the gender disparity in financial inclusion and committed to ensuring women achieve full parity in accessing financial services.
Should these objectives be met, as demonstrated by the CEEY’s diagnosis, both the population and the banking industry would reap significant benefits.
