Mexico City. The banks will give six more months of extension to the inhabitants of Acapulco and Coyuca de Benítez, Guerrero, who were affected by the Hurricane Otisso that they pay their credits.
The monthly payment deferral program was initially planned for one semester, but now it will be extended for a full year, reported the Association of Banks of Mexico.
In October 2023, the National Banking and Securities Commission (CNBV) issued special accounting criteria so that the bank would be able to support its clients affected by the hurricane, granting the deferral of the payment of their monthly payments for up to 6 months. This support program expires on April 30.
The new deadline, approved by the CNBV, is until October 31 and the credit restructurings, which imply the deferral of payment of capital and interest, apply to all portfolios, and specifically, to Micro, Small and Medium Enterprises (MSMEs), affected by the hurricane, expanded the association.
According to an estimate by Fitch Ratings, the economic losses due to Otisthe category 5 hurricane that hit the Pacific coast in Guerrero, amounts to more than 16 billion dollars – around 286,614 million pesos – (
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– 2024-04-19 19:55:22
