Mexican Banks Turn Sights to Credit Card Lending

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00004381-mexican-banks-turn-sights-to-credit-card-/

Banks in Mexico are rushing to increase consumer lending and boost revenues from fees by giving more customers credit cards, a sector that could grow 20 percent this year.

Mexico’s credit card market grew 24 percent last year to 11.6 million pieces of plastic, almost double the number of cards in circulation in 2001.

Analysts say there is enough appetite in Mexico’s 106 million population for banks to issue 20 percent more credit cards this year and in the next few years as card penetration is still low compared to countries like Brazil and Chile.

For this complete story, please visit Mexican Banks Turn Sights to Credit Card Lending.

Mexican Banks Turn Sights to Credit Card Lending

Unknown Author

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