During recent years, improvements in regulation and business models have enabled Mexico's banking system to maintain healthy levels of solvency, liquidity and profitability, together with sustained loan growth and manageable asset quality levels. Nevertheless, a history of instability in the financial sector has taken a toll on the development of the country's banks.

The level of credit penetration as a percentage of GDP, currently around 30%, remains considerably lower in Mexico than other economies with a similar level of development. Meanwhile, historical distortions as a result of high inflation, financial crises and low levels of competition have rendered borrowing costly, and stimulated the development of a sizeable informal sector.

The desire to boost access, increase competition and reduce the cost of credit were key factors that motivated president Enrique Peña Nieto's government to introduce a major financial sector reform, which was signed into law at the beginning of 2014.

In this report, BNamericas will consider some of the key effects of the financial reform on Mexico's banking system with regard to its principal objectives, together with future expectations for the development of the country's banking industry.


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