Although bank credit has shown a recovery in recent months after the negative impact derived from the Covid-19 pandemic, in Mexico there is still a problem of demand rather than supply, said Eduardo Osuna, vice president and general director of BBVA Mexico.
During a meeting with the media, he stressed that the Mexican financial system, and specifically BBVAThey have sufficient capital to satisfy all the requirements of projects in this country.
The Association of Banks of Mexico (ABM) It has said that today it has around 1.3 trillion pesos to lend to projects, both for companies and families, that are viable.
The problem, Osuna noted, is that demand it is low given that there is a very important level of informality in the country.
“When 55-60% of the people work in the informal sector, and 25% of the economy is informal, it is very difficult to grant credit because people do not report their income, because they are employed, because they do not earn what they should earn for being in the informality. So the problem in Mexico is credit demand”, He specified.
Director of BBVA considered that it is also necessary that there be a greater number of infrastructure projects, for example, in matters of Logistics.
In this sense, he considered that if you want to accelerate the economic growth of the country, informality must be fought so that more credit flows.
“Need infrastructure, more formality in the economy so that credit accelerates more than we are seeing ”, he pointed out.
He mentioned that in the case of BBVA Credit will grow this year almost in all its segments, the same as in 2022, but he emphasized that the rebound should be greater in general.
“But in this country credit must grow much faster to begin to have reasonable levels for the development of this economy and the size of the economy,” he said.