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3 million account holders are trying to defer their payments in Mexico

May 6, 2020

BBVA, Citibanamex, Santander, Banorte, HSBC and Scotiabank offered their customers facilities to deal with the COVID-19 pandemic.

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3 million account holders are trying to defer their payments in Mexico3 million account holders are trying to defer their payments in Mexico

In the event of the COVID 19 emergency, six of the major banks across the country offered their customers to defer their payments as a support measure.

BBVA México, Citibanamex, Santander México, Banorte, HSBC and Scotiabank México reported that they received more than 3 million inquiries defer payment of their various loans between four and six months.

BBVA found that more than 1 million customers were registered for deferred loan payments. For individuals, the amount supported is 31% of the retail portfolio; In small and medium-sized companies, the amount supported is 40% of the portfolio in this sector. and for moral people it is 6%.

For his part, Citibanamexstated that more than 730,000 credits were registered for the deferred payments.

Santander México said that around 406,000 of its customers have registered to receive the move with an amount of around 122,000 million pesos. Mortgages covered 36% of the portfolio in this segment; in SMEs it was 52%; Consumer 31% and credit card 17%.

Banorte registered almost half a million customers, while Scotiabank México reported 240,000 until last week.

Although for most banks the deadline for requesting the service expired on April 30, Scotiabank México reported that the deadline for registering other interested parties for the service was postponed to May 31.

In the meantime, HSBC reported that 160,000 had been registered and the plan in this bank runs until May 15th. To be able to apply for the benefit, the interested parties would have to be informed of their payments by 28 February.

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