The bank gives more cards, but with small lines of credit

The bank gives more cards, but with small lines of credit

Until August of last year, 20.5 million plastic cards had been awarded, a growth of 8.9% compared to the same period in 2021.

Total customers, who are the ones who settle the total account of their card, represent 2.6 percentage points of growth, while non-total customers, who pay only the minimum and earn interest, represented 6.3 percentage points.

The average credit limit of non-total customers dropped to 51,385 pesos from 54,765 pesos in 2021. With more non-total customers, the interest rate has also increased to 50.7% from a previous 45.6%.

“The origination of new credit is being structured in a different way to longer terms and lower amounts in order to obtain good payment and healthy credit, we believe that it is a response to the higher (interest) rates,” explained Carlos Serrano, economist at head of BBVA Mexico.

Source link

Written by Editor TLN


How did birds get their wings?

'The country does not give more': how feasible is the advancement of the elections in Peru to 2023?

Boluarte announces the ‘definitive retirement’ of the Peruvian ambassador in Mexico