The Mexico bank lending recovery is solidly on track to post double digit growth this year as Mexico's economy accelerates out of the recession. All of the major Mexican financial firms are predicting bank loan growth of 15-20% this year and sustaining this rate for the next several years. Mexico's banking industry is currently on pace to outperform almost every other country in this category.
Led by strong advances in the public and commercial sectors,loan growth has increased almost 9% year-over-year. Loan balances were 2% higher this month than the previous month alone. Most of the bank loan growth is coming from real estate investors,home buyers and financial institutions.
Unlike most banks around the world,Mexican banks are well capitalized,quite profitable and quickly becoming more eager to lend in this economic up-surge. The Mexican economy is experiencing the fastest economic expansion out of the recession of any of the modern economies,including the U.S. and Canada. The growth is largely being driven by high export demands to the U.S. and Mexico’s booming,coastal real estate market.
Mexico currently has one of the fastest growing real estate markets in the Americas and worldwide. The town of Playa del Carmen located in heart of Mexico's Riviera Maya was named the “fastest growing city in the world” by Guinness Book of World Records and the Mayan Eden known as Tulum,just 30 minutes to south,is on pace to grow even faster.