BBVA to Invest MX$100 Billion in Mortgages and Construction

BBVA highlighted its commitment to Mexico by announcing a whopping investment for Mexicans applying for mortgages and credits for housing construction. The bank BBVA announced a MX$100 billion (US$5.28 billion) investment for Mexico’s housing sector in 2023, as the bank aims to help families achieve their financial goals. 

BBVA added that it seeks to support the real estate sector with an investment that is forecasted to support the growth of the Mexican economy, said the bank via a press release. 

BBVA expects to place more than 45,000 mortgages in individual credits representing a total of MX$77 billion (US$4.07 billion). The rest of the investment will be directed as credit to developers for housing construction, with BBVA granting more than MX$33 billion (US$1.74 billion). 

In 2022, BBVA placed 25% of all mortgages on the market, with an estimated MX$65.6 billion (US$3.46 billion) in individual placement that benefited 36,000 families. The bank highlighted that the operations allowed families to consolidate their assets while gaining vital support for their housing projects. BBVA destined MX$30 billion (US$1.58 billion) in credits for developers that served as funds to the construction of 19,000 homes. 

"We remain firm in our commitment to invest in the sector and in Mexico and to accompany builders and families, with solutions that promote efficient credit granting, always linked to digitization pillars and sustainability,” said Eduardo Osuna, Vice President and General Director, BBVA Mexico. 

Romualdo Mata González, Director, BBVA Mexico Mortgage Network, highlighted that the bank brings a strong value offer for customers with projects that stay in line with customer needs. Mata explained that the bank deems it vital to take care of each customer’s financial assets while exploring ways to increase their finances. 

“We have a solid commitment to sustainability in line with the global purpose of the BBVA Group. For this reason, we will promote the development of projects that focus on building a future with more opportunities for all,” said Mata.