If the initiative presented by Morena is implemented to reduce bank fees, financial institutions that have a increased exposure to retail loans will have the biggest impact, such as Citibanamex, Santander and BBVA Bancomer, the credit rating agency said Moody's
"The most affected banks are those with high exposures to retail loans, such as Citibanamex, a tin commissions in August 2018 represent 28 percent of net income, and Banco Santander, whose fees represent 21 percent of net income over the same period, "the agency said in a report.
These two financial institutions are followed by BBVA Bancomer, HSBC and Banco Multiva with commissions, which on average represent 17 percent of net income. Opposite, Banco Inbursa, Banregio and Banca Azteca would be the least affected with 12, 5 and 2 percent.
Moody's stressed that banks would probably try with lower revenues from fees with higher interest ratesHowever, competitive pressure, particularly in the retail customer segment, would probably limit their ability to do so.
Although Senator Ricardo Monreal, who proposed the initiative, confirmed that Mexican bank fees are too high, the credit rating agency points out that the income from fees for Mexican banks is in line with those in most other major systems in Latin America. , as in Chile, Peru and Colombia.