Looking ahead to the Banking Convention that will return to Acapulco on April 18 and 19, in the coming days there will be a lot of talk about this important area grouped in the ABM that he presides Julio Carranza.
With the elections and the uncertainty, it is known that it will not be an easy year. In fact, the pace of credit started the year very weak.
Despite this, banking profitability has not decreased with a growth of 12% in 2023, especially the push from high rates.
Furthermore, although business financing appears conservative, this is not the case with consumer credit, with cards as a piston, especially the war with the presence of fintech.
The country’s low financial penetration is known. Millions of people are just beginning to handle plastic with the inherent risk.
Of course, faced with the growth of defaults, both fintechs and banks manage extremely high returns that make defaults manageable.
For example, the Argentine Ualá, which has Pierpaolo Barbieri and who bought Banco ABC brings a Total Annual Cost (CAT) on their card of 90.7%. It’s crazy, but Rappi Ivan Cadavid it surpasses it with 108% and if that were not enough Stori de Marlene Garayzar reaches 152%!!!
According to specialists, this sofipo is the highest in the market, but do not think that the banks are left behind.
As is known, these handle different plastics depending on the segment and the risk it entails. There Banorte that directs Marcos Ramirez It comes close to Stori with its “Ke Buena” cards with a CAT of 149.6%, “Card 40” at 148.5% and the “Classic” at 126.7%.
At these levels also Citibanamex of Manuel Romo It is onerous with its “Classic” that brings a CAT of 133%, “Teletón” 125.7% and “The Home Depot” with 123.3%.
The most expensive BBVA he runs Eduardo Osuna It is the “Crea” with a CAT of 118.8%, in line with the “Costco” of Citibanamex at 109% and the “ATT” of Banorte with 104%.
Such financing seems unaffordable and for many clients, especially if they do not have a financial culture, it becomes a real trap. So high watering.
COFEPRIS AS OF DECEMBER 4,882 MEDICINE PROCEDURES ON WAITING
I told him about the concern in the AMIIF that he directs Larry Rubin around Cofepris. It is urgent in the next six-year term to strengthen the budget of that agency that has Alejandro Svarch in order to improve its efficiency. There is a delay in the approval of new molecules with procedures that can last up to 4.5 years. Regulatory “harmonization” would also help so that the endorsements of the FDA in the US and the EMA in Europe are considered. The point is to speed up the arrival of innovation. As of December, there were 4,882 unresolved procedures within the established legal deadlines.
SCALE TO ECONOMY AND SADER BRAKE LICONSA TO MILK PURCHASES
It gave him an account of the risks that loom in the field of milk due to the brake on purchases by Liconsa of Leonel Cota Montaño after privileging the imported product. The industry has already escalated the file to Economy of Raquel Buenrostro and this same week Sader in charge of Victor Villalobos. The risk is the closure of roads by producers and spilling food in public spaces. There are feints.
ORTEGA DE CANACINTRA TRANSGED ARTICLE 4 OF THE CHAMBER LAW
A correction. The president of Canacintra Esperanza Ortega He proselytizes in his native Campeche in favor of his son Chepo Ortega who seeks a deputation. The point is that it is not from Morena but from the PRI. However she wants, the leader violates her statutes and the Chambers Law. Specifically, it is article 4: “the activity of the chambers and their confederations will be that of their object; They will not be for profit and will refrain from carrying out religious or partisan activities.”