Mexico Tightens AML Regulations For Afores: The Week in Finance

This week in finance, Barclays exits the Net Zero Banking Alliance amid weakening global coordination, while Mexico prepares new AML rules for pension funds. Meanwhile, DiDi reaches a lending milestone, BBVA posts strong earnings despite rising risk provisions, and remittance register their steepest decline in over a decade.

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Barclays Leaves Net Zero Alliance, Citing Weakened Impact

Barclays has formally withdrawn from the United Nations-backed Net Zero Banking Alliance (NZBA), citing a wave of member departures that it says has weakened the alliance’s ability to support its green transition goals. The London-based bank issued a statement on Aug. 1 explaining its decision: “After consideration, we have decided to withdraw from the Net-Zero Banking Alliance. With the departure of most of the global banks, the organization no longer has the membership to support our transition.”

Mexico’s Finance Ministry to Finalize Afore AML Rules by August

Mexico’s Finance Ministry (SHCP) plans to finalize new anti-money laundering (AML) regulations for retirement fund administrators (Afores) by the end of August, the government announced at the 2025 Afore Fair held in Mexico City’s Town Square. Héctor Santana Suárez, head of the Insurance, Pensions and Social Security unit at SHCP, explained that the updated rules will align with international standards established by the Financial Action Task Force (FATF). 

DiDi Hits 20 Million Loan Milestone in Mexico

DiDi Loans, the financial services arm of ride-hailing and delivery platform DiDi, has surpassed 20 million loans issued in Mexico, the company announced. Since its launch, DiDi Loans has offered personal loans and introduced complementary financial products, such as the DiDi Card and DiDi Paga Después. The company has now increased its maximum credit line to MX$46,800 for select users.

BBVA Mexico Earns MX$29 Billion in 2Q25 Despite Risk Provisions

BBVA Mexico posted a net profit of MX$29.35 billion in 2Q25, up from MX$28.14 billion in the previous quarter and MX$27.08 billion in the same period of 2024, the bank announced on July 31. In the first half of 2025, the bank’s total profit reached MX$57.49 billion, marking a 9.3% increase compared to MX$52.58 billion in the same period last year. 

Mexico Remittances Drop 16.2% in June, Worst Since 2012

Mexican households received US$5.2 billion in remittances in June, marking a 16.2% year-over-year decline, the sharpest annual drop in monthly remittances since September 2012, according to data from Mexico’s Central Bank. The downturn comes amid stricter US immigration policies and increased labor enforcement.