The National Banking and Securities Commission (CNBV, in Spanish) of Mexico recently released a report indicating that approximately 10 percent of adults in the country, or some six million people, live in municipalities that do not have any financial institutions. Although Mexico is home to approximately 13,580 financial institutions, including 768 regulated microfinance institutions (MFIs), and although commercial banks “cover a territory that is home to about 85 percent of the population”, CNBV’s chairman, Mr Guillermo Babatz, reports that approximately 57 percent of Mexico’s 2,456 municipalities lack access to any type of financial institution. Of municipalities that have access to at least one type of financial service, CNBV reports that commercial banks operate in 802, development banks in 417, credit unions in 450 and microlenders in 311 [1].
By Lindsey Shaughnessy, Research Associate
Sources and Additional Resources:
[1] Latin American Herald Tribune, “Over 6 Million Mexicans Live in Areas without Financial Services”, http://www.laht.com/article.asp?ArticleId=367816&CategoryId=14091
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