Consumer lending in Mexico has been subject to significant impacts in recent years. The COVID-19 pandemic led to strong rises in overall gross consumer lending over 2019-2021.
Inclusion and segmentation are key trends that have been gaining ground in consumer lending in Mexico in 2022. Players are increasingly turning their focus to particular consumer segments, such as women, young people and/or Mexico’s large low-income population, for example.
According to the National Chamber of the Housing Development and Promotion Industry (Canadevi), although an adjustment in the interest rates of mortgage loans is expected in 2022, which during 2021 were at minimum levels of up to single-digit figures, this will not discourage the dynamism that such financing has enjoyed since the pandemic broke out in Mexico in 2020. Given the increase in interest rates by Banxico, banks will have to adjust the offer of the financing granted, in line with their own individual strategies.
Buy now pay later (BNPL) is a major trend in consumer lending in Mexico in 2022 seeing extremely rapid and robust growth with the pattern predicted to continue over the forecast period. BNPL holds high appeal mainly for younger consumers with no credit history.
Consumer lending overall is set to see strong growth over the forecast period, beginning with a significant rise into 2023 and then slowing slightly as it settles into healthy and stable increases. However, the impact of 2022’s substantial increase in interest rates will undoubtedly hamper expansion of loan acquisitions, while at the same time providing an opportunity for fintech players to lure new clients and forcing traditional banking players to aggressively react and re-strategize in order to avoid a crash.
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Understand the latest market trends and future growth opportunities for the Consumer Lending industry in Mexico with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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Consumer Lending
Aggregate of Consumer Credit and Mortgages/Housing. Gross Lending: The total value of loans advanced by institutions in a given year; data refers to single year only. Outstanding Balance: The collective amount owed by borrowers at the end of a given year; data refers to the cumulative impact of debt.
See All of Our DefinitionsThis report originates from Passport, our Consumer Lending research and analysis database.
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