Emilio Romano, elected president for the 2025-2027 term of the Mexican Banking Association (ABM), argues that banking in Mexico operates optimally when there is certainty, emphasizing that uncertainty is an obstacle to economic growth. Romano states that stability, trust, and certainty are fundamental to the Mexican financial system, elements that are currently present in the country and must be enhanced for faster progress.
Focusing on promoting financial inclusion, de-banking, and the expansion of credit for small and medium enterprises, as well as for large national projects, Romano highlights the importance of pushing the economy towards greater digitalization and banking to achieve higher credit penetration.
As the new president of the ABM, one of Romano's objectives is to encourage the reduction of cash usage in the economy, promoting the use of technology and digital payments in both the public and private sectors, which would facilitate the banking of the population and strengthen the Mexican banking system in various aspects, including combating illicit activities.
The main challenge facing banking in Mexico, according to Romano, is the need to continuously adapt to provide better service to users and finance large-scale projects and investments in the country. Romano emphasizes the role of banking in improving the standard of living for Mexicans and supporting economic growth, underscoring the importance of financial inclusion and financial education to achieve a more equitable distribution of wealth.
One of the focal points is to continue expanding access to bank credit, especially for SMEs, with the goal of increasing credit penetration in Mexico, which is around 40% in relation to GDP, a figure considered low globally. The informal economy represents a challenge in this regard, as it affects the ability of SMEs to access credit, making it necessary to advance in accounting and tax matters to improve their financing viability.
