Because the pandemic, a thousand financial institution branches have closed: BBVA

Mexico Metropolis. Round a thousand financial institution branches have closed within the nation because the starting of the pandemic till the tip of the primary quarter of this 12 months, a results of the progress within the digitalization of the customers of those establishments, a BBVA report launched with figures taken from the Nationwide Banking and Securities Fee (CNBV).

In response to the doc, on the finish of the primary quarter of this 12 months, within the nation there’s a report of a complete of 11,814 branches in operation, which means the closure of 24 in comparison with December 2023 and 30 lower than in the identical month of 2023.

In response to the BBVA report, after the 2009 monetary disaster and till 2014, industrial banks working in Mexico opened round 2 thousand branches, then they started to shut some, however between 2015 and 2019, the variety of bodily branches reached its most to achieve 12,849 in December of that final 12 months.

He detailed that from December 2019 to December 2021, the variety of branches decreased by 1,151, going from 12,849 to 11,698, a discount “which may be related to the pandemic, the rise in digitalization by customers, amongst different wants of a number of banking.”

Lastly, he identified, as of that date, the variety of branches has remained comparatively fixed over a interval of 9 quarters with round 11,800.

In flip, he factors out, till March of this 12 months, the CNBV has a report of a complete of 63,464 ATMs in operation, 636 lower than in December 2023 and a couple of,093 lower than in March 2023.

“When observing the historic habits, there are two intervals, the primary goes from March 2009 to March 2020, the 12 months by which the Covid-19 pandemic started, on this interval a mean of 581 ATMs grew every quarter and subsequently, the rise has been 476 each 3 months,” BBVA said.

The nation, equipped with care factors

The financial institution’s report additionally signifies that the nation has 2,475 municipalities with completely different territorial extensions and completely different traits, which causes there to be municipalities with low inhabitants density and with sure geographical or infrastructure traits that make the monetary system unviable. provide conventional entry mechanisms, corresponding to branches, ATMs or point-of-sale terminals.

Regardless of the above, till March 2024, 87.6 p.c of the inhabitants in Mexico had at the least one department of their municipality.

On the similar time, 75.8 p.c of the municipalities had at the least one Level of Sale Terminal. Thus, municipal protection by POS went from 94.5 p.c of the inhabitants in March 2014 to 97.8 p.c of the inhabitants in March 2024.