Mifel Financial Group has a good expectation for credit in the remainder of the year, despite the fact that the economy is not behaving as vigorously as expected.
Daniel Becker Feldman, Group President Mifelexplained that the forecast of this bank is that it will expand almost to double digits this year, and an important part would be due to the recovery that there has been in consumption.
To the extent that we continue to see economic activity, although it is not as vigorous as originally thought, associated with high inflation and geopolitical issues, we see near double-digit growth in the loan portfolio, to the extent that let’s continue to see this recovery,” Becker said.
Interviewed after the presentation of a new credit card in alliance with Miles & More and Mastercard, he specified, however, that the credit that originates must be of quality so as not to generate problems in the portfolio.
At the close of last January, the total portfolio of Mifel Bank amounted to 56,547 million pesos, a figure higher than the 47,642 million in the same month of 2021, according to information from the National Banking and Securities Commission (CNBV). The Delinquency Index (IMOR) stood at 3.91%.
You do not see an increase in rates in the consumer portfolio
Regarding the continuous rise in inflation and therefore increases in the reference rate by the Bank of Mexico (Banxico) to try to control it, Daniel Becker -who is also the president of the Association of Banks of Mexico (ABM)-, ruled out that this will be reflected in the consumer portfolio, as is the case of credit cards.
“In the credit card, I believe that (the impact) will be marginal, because the interest rates of the credit card absorb less the shocks of the increases. So we do not see an increase in the rate on the consumption issue, ”he explained.
The banker stressed that, although not in real terms, consumption in the country has grown and people are beginning to spend, more than on physical products, on services such as tourism, and that is why the bank launched this new credit card focused on frequent travelers.
The credit card Mifel Miles & More World Eliteis a product created to meet the needs of its travel-loving customers, which will allow them to earn reward miles, in addition to granting them exclusive benefits.
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