The minimum amount required to open a bank is above countries such as Switzerland, with a US$16 million requirement, and well above countries such as Guatemala (US$13 million) or Nicaragua (US$11 million). Other countries, such as Chile, Spain or Portugal, do not have minimum capital requirements.
“A possible explanation for the limited access of new banks in Mexico may be a consequence of the high amounts that must be initially available,” suggests the report presented by COFECE. “… It should be analyzed, in order to assess whether it is advisable to adjust it to the levels that allow greater market entry,” it suggests.
The study includes the 48 banks that operate in Mexico, although just three of these concentrate more than 50% of the financial assets: BBVA Bancomer, Santander and Citibanamex. Both BBVA and Santander have expressed their interest in increasing their presence in Mexico, one of their biggest centers of profitability.
Full Content: Contra Réplica
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