Oaxaca: with more financial inclusion, but only in the city

In the top 10 mayoralties or municipalities with the most financial inclusion, six are located in Mexico City and two in Nuevo León.

Oaxaca capital occupies eighth place, surpassing the Tlalpan mayor’s office in Mexico City. Compared to last year, it rose one position.

The best evaluation of financial inclusion has to do with the fact that they are places where there is a supply of products and demand from users.

“In the case of Oaxaca, tourism precisely favors use,” said Juan Luis Ordaz, director of financial education at Citibanamex.

But there are contrasts in the country’s financial inclusion. Oaxaca, given the high number of municipalities and being an entity with access problems to infrastructure, remains in 31st place among the states with the most financial inclusion.

Globally, only 45% of Mexicans have an account, one of the lowest rates compared to emerging economies in Latin America.

“These positions are explained by the low infrastructure or access to financial services that prevail in these entities and, to a large extent, by their low use,” highlighted Citibanamex.

What are the most used products?

The survey indicates that contracts of people who use mobile banking are the service most used by people with a growth of 18.7%.

Establishments with POS terminals and point-of-sale terminals also saw significant double-digit growth.

ATMs and correspondents grew at single-digit rates.