Puebla, Guerrero, Zacatecas, Oaxaca and Chiapas, the entities with the least financial inclusion

Puebla, Guerrero, Zacatecas, oaxaca y Chiapasremained in 2021 as the states with financial inclusion “very low“.

The foregoing follows from the Citibanamex Financial Inclusion Index 2022, which highlights that these five states are the same ones found in that category in 2020.

The document specifies that it is Chiapas the entity furthest behind in terms of financial inclusiongiven that, for example, in 2021 there were only 0.67 bank branches for every 10,000 inhabitants, when the national average is 1.26.

Regarding ATMs, there were only 2.9 for every 10,000 inhabitants in the entity, against 6.4 at the national level; and in Point of Sale Terminals (POS) there was 55.9 (against 148.2 nationwide).

Related Post

Afores reported 142,715 million pesos of capital gains between January and April: Consar

May 15, 2023

Open finance the opportunity of the Neobank

May 12, 2023

Mercado Pago users exceed 1,000 million pesos in investment through GBM

May 3, 2023

How did a coffee farmer from San Cristóbal de las Casas, Chiapas, increase her productivity by 433%?

April 28, 2023

Regarding the use of services, in Chiapas In 2021, there were 4,935 traditional transactional accounts for every 10,000 inhabitants, while at the national level the figure rises to 8,837, and in credit cards, the proportion was 1,162 against 2,984.

The indicator with the smallest difference between the entity and the country’s average is that of total credits: 2,255 per 10,000 people in Chiapas compared to the 2,736 of the national average”, indicates the analysis.

The index highlights that in the 14 variables that are taken into account, these five entities are at a disadvantage with respect to the national aggregate.

“The figures show a great lag in terms of financial inclusion for this group of entities, which, for the most part, have a degree of economic development lower than that achieved by the country as a whole,” he underlines.

And the states of the country that have low financial inclusion are: Durango, Veracruz, Guanajuato, Mexico, San Luis Potosí, Michoacán, Hidalgo and Tlaxcala.

Meanwhile, those with medium financial inclusion were: Jalisco, Morelos, Campeche, Nayarit, Yucatán and Tabasco; and the high ones: Sonora, Coahuila, Baja California, Colina, Tamaulipas, Sinaloa, Querétaro, Chihuahua and Aguascalientes.

The entities with the greatest financial inclusion

In contrast, the entities in the country that remained in 2021 as those with very high financial inclusion were: Mexico City, Nuevo León, Quintana Roo and Baja California Sur, ranking in the same classification as in 2020.

“In these entities, access and/or use of financial instruments exceeds the national average, adjusted for population,” he says.

The document mentions that although Mexico City ranks first in financial inclusion, explained by the maximum coverage and use of financial services in 9 of the 14 indicators when compared to other entities, it is observed that in most of the variables ( 10) registered setbacks compared to 2020, with the greatest falls in credit cards with 14.4%, branches with 12.3% and total transactional accounts with 10.5%.

Municipalities with very low financial inclusion went from 1,436 to 1,320

The report prepared by Citibanamex It highlights that the municipalities considered to have very low financial inclusion fell to 1,320 in 2021 from 1,436 in 2020.

Meanwhile, the number of municipalities with a low level increased from 526 to 547; the average went from 247 to 294; those of high from 179 to 222 and those of very high, from 77 to 88.

Far from achieving the maximum use

The Citibanamex Index considers that Mexico is far from achieving the maximum use of its financial system, although there have been advances, so there is still a long way to go.

“The barriers that stop financial inclusion continue to persist in people’s daily lives. This has a negative impact on economic growth at micro and macroeconomic levels, directly and mainly affecting social groups in a situation of vulnerability”, she emphasizes.

kg