Best Bank - Mexico
Mexican retail banks are known for making customers pay through their noses.
Clients endure costs for
even basic services like savings accounts and online banking,
as well as paying steep interest rates on loans and credit
cards set by a powerful banking oligopoly.
Such practices have
helped an already well-capitalized, conservative banking system
stay profitable when lenders around the world hemorrhaged cash
during global crisis, analysts say. So while some experts worry
that high prices could delay penetration of banking services in
Mexico, the benefits ensure that little is done beyond
incremental fee cuts.
BBVA Bancomer the largest bank in Mexico with $1.1
trillion pesos in assets as of June, according to the CNBV
is no exception. Its dominant position in most lending
segments allows it to take a lead in influencing prices, says
Fitch analyst Alejandro García. Moodys says the
bank has kept its net interest margin at 6.4%, more than the
peer average of 6.2%, despite crisis....
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