Lagos added that the firm has succeeded in promoting financial inclusion with the accounts with yields, by adding
6,700 million dollars.
The firm’s CFO stressed that once they operate as a bank in Mexico, NU will give priority to the placement of products such as payroll (both in collection and in credits) as well as the financing of SMEs.
“For me the most important product is the payroll product. As Sofipo we cannot offer it and today the payroll issue is quite concentrated: four banks in Mexico has more than 80% of the payroll market,” he said.
Delinquency will remain above traditional banks
At the global level, NU’s delinquency rate registered 4.4% and in Mexico although it is at levels of 7% as a sofipo, Lagos says they are not worried about maintaining a rate above what traditional banking has.
“We are probably not going to offer credits only for the highest classes in Mexico. We are going to enter the population of more than low resources,” he said.
