Mexico’s BBVA Bancomer Aims For 25% Micro Business Loan Growth
June 17, 2011 § Leave a comment
Small and medium-sized businesses account for 40% of jobs in Mexico. It’s no surprise then that Mexico’s largest bank, BBVA Bancomer, said Thursday it aims to increase this year’s lending to small- and medium-sized businesses by 25% to roughly 26 billion pesos ($2.17 billion).
The director of business development at BBVA Bancomer, Enrique Medina, said the bank extended 12,000 loans to small enterprises worth MXN $6 billion from January through May 2o11.
BBVA Bancomer, the Mexican unit of Spain’sBanco Bilbao Vizcaya Argentaria SA (BBVA), has 600 account executives dedicated to attending the market segment, in which it claims to be the top lender with a 30% market share.