The banking sector also showed less profit a month ago. According to data published by the National Banking and Securities Commission (CNBV), the seven main banks in the sector accumulated 192,356 million so far this year, which is 5.6% less than last year. As for interest income, the sector recorded a total of one trillion 502,998 million pesos, while expenses reached 745,078 million. The figures are 1.9% and 6.9% lower, respectively, compared to what was reported from January to October 2024. The banking regulator also reported that the balance of the total credit portfolio of the banking sector was 7 trillion 946,801 million pesos, which meant a real increase of 3.4% compared to the same period in 2024. Bankers question Claudia's regulatory changes: "There were more changes than expected" Emilio Romano, head of the Mexican Banking Association (ABM), acknowledged that the estimated growth of the Mexican economy this year—around 0.5% according to consensus—was "disappointing," considering that Mexico is not at its potential. The leader of bankers attributed this result to external, but also internal, uncertainty. From January to October, banks reported profits of 251,749 million pesos, representing a reduction of 1.13% compared to 2024 in real terms. In this sense, he also pointed out that the sector has faced more regulatory changes than expected from the government of Claudia Sheinbaum. Even so, he assured that the banking sector remains solid and that although credit has slowed, it is still above economic growth and he projected a better growth for 2026, also linked to the negotiation of the USMCA and the expectation that there will be no more changes for the sector. "Our short-term perspective is what it is, but the medium-term perspective is better," said the head of the ABM at a press conference last week.
