Tuesday , July 27 2021

If Citibanamex, Santander and BBVA Bancomer eliminate commissions, the most vulnerable: Moody's

If the initiative offered by Morena is applied to reduce banking commissions, More exposure to retail credit will get the biggest impactas Citibanamex, Santander and BBVA Bancomersaid the rating agency Moody & # 39; s & # 39; skin.

"Most affected banks, such as Citibanamex like Citibanamex commissions account for 28 percent of net revenues from AugustThe commission represents Banco Santander, representing 21 percent of commissions in the same period, "he said.

These two financial institutions are followed by BBVA Bancomer, HSBC and Banco Multiva. Commissions representing 17 percent of net income, on average. Unlike, Banco Inbursa, Banregio and Banco Azteca least affected 12, 5 and 2 percent respectively.

Moody's, banks probably Lower wage income with higher interest ratesHowever, the competitive pressure in the retail customer segment, in particular, will limit their ability to do so.

Although the Senator Ricardo Monreal, who proposed the initiative, confirms that the Mexican banking commissions are extremely high, the rating agency emphasizes that the fee income for Mexican banks is consistent with that of other major systems in Latin America. As in Chile, Peru and Colombia.

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