The number of investment accounts managed by brokerage houses in Mexico increased 226.78% in one year, according to the most recent report of the National Banking and Securities Commission (CNBV), since in December 2021 there were 3 million 96,413 accounts vs. 947,555 in December 2020.
Jorge Sánchez Tello, Director of Applied Research at the Foundation for Financial Studies (Fundef), explained that “the data is positive, because during the pandemic, people decided to take the opportunity to open their account at regulated brokerage houses to save and invest given that they have made it easier to open accounts from applications and the Internet”.
The brokerage house that stands out for managing the largest number of investment accounts is GBM+, with 89% participation of the total and 2.7 million accounts, however, of the total assets its participation is 2.66%, with a total of 22,916 millions of pesos.
Its closest competitor is the investment bank of Actinver, with 3.09% of the investment accounts, equivalent to 95,580 accounts and with 5.50% of the total assets, which add up to 47,382 million pesos.
The third place is occupied by the Kuspit investment platform with 63,387 accounts, equivalent to 2.05% of the total and 170 million pesos under administration, that is, just 0.02% of the resources.
“GBM+ and Actinver have adapted very well to digital times. In fact, GBM is the one that registers the largest number of new clients thanks to its digital strategy”, said Jorge Sánchez.
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Between December 2020 and the same month last year, the number of total assets managed by brokerage houses totaled 38,149 million pesos, for a total of 861,920 million pesos, an increase of 4.63 percent.
According to the CNBV, of the total assets of the 36 brokerage houses, the one with the largest share is Casa de Bolsa Banorte, with 34.36% of the total and 296,132 million pesos. It is followed by Casa de Bolsa Invex with 6.88% and 59,339 million pesos. Finamex has 6.81%, equivalent to 58,660 million pesos.
On the other hand, the Capitalization Index (ICAP) of the brokerage firms must be at a minimum level of 10.5%, according to the CNBV.
Within the highest ICAP is Deutsche Securities with 606.35%, followed by Santander with 514.84%, the US entity JP Morgan with 503.91%, BBVA with 495.44% and Barclays Capital with 466.70 percent.
“Despite the exponential growth of investment accounts during the pandemic, the brokerage firm sector may continue to grow,” said Jorge Sánchez.
“We must not forget that Mexico continues to be a country with inequality and informality, which is why it is essential to have greater economic growth, more employment and more companies so that people can open more accounts,” the interviewee concluded.