In Mexico, the banking sector has pledged to increase private sector credit from 38% to 45% by 2030, as emphasized by the President of the Mexican Banking Association at the opening of the 89th Banking Convention.
In a bid to promote national development, Mexico's banking sector has made a commitment to raise the share of credit provided to the private sector from 38% to 45% by the year 2030. Emilio Romano Mussali, the President of the Association of Banks of Mexico, highlighted this goal during the inauguration of the 89th Banking Convention. He expressed a strong belief that collaboration among society, government, and the banking sector is critical for building a stronger, more prosperous, and fair Mexico.
Romano Mussali underlined that more than 300,000 people within the Mexican banking system share this mission with the government: to foster growth that will contribute to a more equitable country. He noted that over 70 million Mexicans currently have access to some form of banking service, reflecting significant progress; however, he acknowledged that there is still considerable work to be done to achieve universal financial inclusion and support domestic growth.
Amid these commitments, the proposal for the establishment of a National Center for Financial Education was put forth, aiming to centralize efforts to improve financial literacy across the population. This initiative indicates a proactive approach not only to increase credit but also to enhance the overall financial knowledge of citizens, which is essential for fostering sustainable economic development in Mexico.
