Article Summary:
Original Article Text From El Universal via Google Translate :
Bank Financial Strength is to Increase Coverage
While acknowledging a decline in profits in 2011, the Association of Banks of Mexico has significant levels of reinvestment. The bank has the financial strength to increase coverage of their services, although this year saw the sector decline in net earnings and higher capital requirements for credit reserves.
The president of the Association of Banks of Mexico (ABM), Jaime Ruiz Sacristan, said that the bank has major reinvestment levels are reflected in a high solvency.
He explained that the sector equity sum of 581 billion pesos, which represents growth of almost three times or 174.1 percent to 212 billion pesos achieved in 2003.
This allows the sector to increase its banking infrastructure and coverage of services such as bank branches, which increased 58 percent over the past eight years, from seven thousand from 740 to 12,000 231.
From 2003 to last September, went from 18000-36000, which represented growth of 100 percent, while the point of sale terminals increased 279 percent, from 146,000 to 535,000.
In the case of debit cards, said that in the study period reported 159 percent increase when going from 32 million to 83 million.
Meanwhile, credit cards account for 25 million credit, which meant an increase of 178 percent over nine million in operation during 2003.
