Bank-Government Pact Boosts MSME Credit Access to 26.2%

An agreement signed in May between the Federal Government and the Association of Mexican Banks (ABM), aimed at increasing credit placement among the country's micro, small, and medium enterprises (MSMEs), reached 26.2% coverage in August. This represents a 1.6 percentage point increase from the 24.6% proportion recorded at the time the agreement was signed.

The goal of the agreement is to increase credit coverage from 24.2% to 30% of all MSMEs, says Emilio Romano, President, ABM. "Today, credit is already at 26.2%, which is a growth of almost two points, and it is approaching our goal adequately," Romano adds.

The total number of MSME borrowers grew by 3.9%, rising from 255,000 at the time of the agreement to 269,000. The total MSME portfolio is MX$521 billion (US$27.9 billion), maintaining a growth rate of 7.6% annually.

"These two figures are very encouraging and are a sign of the banking sector's commitment to lending more, specifically to MSMEs, consistent with our agreements and with Plan México," says Romano. The association says that reaching the agreement's goals requires continued joint work between the banking sector and the federal government.

The ABM also reported that the interest rate for MSME credit is trending downward, averaging 14.4% in August. This rate was 15.55% when the agreement was signed and 16.1% in 2024.

The banking organization says that "comparing the spreads of MSME interest rates (the difference between the interest rate and the reference rate), Mexico has the most competitive rate in emerging markets."

The ABM points to a portfolio of MX$120 billion allocated to strategic sectors outlined in Plan México, including textiles and footwear, agro-industry, semiconductors, consumer goods, aerospace, pharmaceuticals and medical devices, chemical and petrochemicals, and automotive and electromobility. The association specified that credit amounts will be up to MX$30 million, and the beneficiaries will be direct and indirect suppliers within the value chain of these strategic sectors.