In the latest report from the National Banking and Securities Commission, it was revealed that Libertad Servicios Financieros remained the leader in savings accounts with 2.3 million out of a total of 10.6 million reported. Also, NU México's entry with 2.4 million was highlighted, pushing CAME to third place with 1.3 million accounts.
The presented data indicated that the average balance of savings accounts was 48,672 pesos, showing a decrease from the 51,213 pesos observed in 2022. Regarding geographical distribution, Mexico City, the State of Mexico, and Jalisco led in the number of accounts, while Nayarit, Colima, and Tlaxcala had the lowest penetration in these types of financial products.
Banco del Bienestar recorded a total of 21.7 million savings accounts, a significant increase compared to the 8.3 million reported at the end of 2022. This is attributed to the dispersion of resources from social programs, according to the CNBV. Cooperative Savings and Loan Societies (Socaps) ranked third in savings accounts with 16.3 million.
Sofipos experienced notable growth, increasing from representing 4.0% of the total in 2022 to 7.0% in 2023, which equates to an increase of just over 4.2 million accounts. Among financial entities, BBVA México led with 29.7 million, followed by Banco Azteca with 14.7 million and Citibanamex with 12.1 million.
In second place were the contracts from development banking with a total of 23 million. At the end of last year, the total number of savings accounts reached 162.6 million, which represents a 13.3% annual increase. This growth was driven by Banco del Bienestar and the work of Sofipos, according to the CNBV.
According to the report "Annual Overview of Financial Inclusion 2024", based on 2023 data, banking accounted for 69% of the total accounts, that is, 112.7 million contracts.
