Figures from Bank of Mexico (Banxico) show that in the country there are 91.7 million credit cards issued by banks, however, only 50% of these are actively used.
The banks that have provided the most financing via plastics are Ualá, Mifel and Invex until the third quarter of this year, according to CNBV figures.
Ualá, the bank founded by the Argentine Pierpaolo Barbieri, highlights its increase of more than 150% compared to 2024.
Mifel and Invextwo banks that in recent months have made strategic alliances with stores to position this type of product, reported a growth in their credit portfolio of 47% and 29%, respectively.
Mifel made an alliance with Lufthansa, while Invex has its agreements with Ikea, Walmart and Volaris, for example, which allows them to expand the number of cards they grant.
Valmex analysts estimate that consumer credit, such as credit cards, will maintain this double-digit growth, being key to the resilience of banks.
Banco Azteca, HSBC and Santander They were the only three banks that until September reported a drop in credit granting.
