• MILLION: Nearly 21 million Mexicans -a fifth of total population- do not live within walking distance from a bank or financial institution according to a new report by Mexico’s banking and securities regulator (CNBV). Most of the localities without access are in southern states like Chiapas.
• POPULATION: “Despite the fact that between 80% and 90% of the population is covered, nearly 21 million people still don’t have financial infrastructure in the 1.2 mile radius (2 km), 14 million in the 2.4 mile radius (4 km) and 7 million in the 4.3 mile radius (7 km)”, the CNBV says in its report.
• TOWNS: The largest localities with no financial infrastructure in a radius of 4.3 miles include Nueva Palestina (pop. 10,500) in Chiapas, San Nicolas de los Agustinos (pop. 7,100) in Guanajuato and Chanal (pop. 7,000) also in Chiapas. Given its size they are the worst served.
• STORES: “Banks have reduced their transaction costs and do not intend to open branches because they have found that convenience stores have enabled them to offer basic financial products and services”, said Raymundo Tenorio Aguilar, a professor at the Tec the Monterrey’s business school
