“We are committed to the transition towards a sustainable financial system, which makes it essential to establish standards and principles that guide this transformation,” Buenrostro said.
The official highlighted that in almost half of the country’s rural communities there are no banks or Sofipos and in 6% of the municipalities across the country, cooperatives are the only regulated financial entities.
“The sector serves more than 9 million people and more than half of them are women. In about a decade, the number of people served has grown by 80%, the number of branches has increased by nearly 20% and the sector’s assets have doubled in real terms. And this growth has occurred in a context of healthy development because the sector is well capitalized, with a healthy portfolio and solid profitability indicators,” he said.
As of last June, there were 154 cooperatives operating in the country, which together had 9.5 million members and 2,297 branches throughout the country.
The assets of the more than 150 Socaps amounted to more than 268,000 million pesos and Buenrostro said that they are a relevant sector due to the financial inclusion work they do with women.
The president of Concamex, José Manuel Cruz, highlighted the importance of digital transformation, which is here to stay, and will therefore seek ways for these institutions to generate social and sustainable innovation.
