In the aftermath of the 1994-95 peso crisis numerous reforms have strengthened the regulatory framework and increased sophistication in Mexico's financial system. However, the banking sector is small and shallow: bank deposits, as well as credit to the private sector, represented less than 20% of GDP in 2013, which is one of the lowest levels in the region, and well below those in Brazil (close to 50%) and Chile (over 80%).
Credit growth has remained in the 10-15% range since 2011, a relatively robust and sustainable rate that is in line with economic fundamentals but still considerably lower than pre-crisis rates of over 20%. The recently passed financial reform will help to drive a deepening of credit markets by improving competition in the banking sector, addressing long-standing constraints on lending to small and medium-sized enterprises (SMEs) and strengthening the role of the national development banking system.

Financial services report 2

Banks 3

Insurers 6

Asset managers 8

Financial markets and instruments 10

Financial regulation 13

Monetary and currency policy 15

Mexico at a glance 16

Fundamental indicators 17

Key contacts 18

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