Business Services Industry
Banks expecting 30% growth in consumer credit this year says S&P.
Internet Securities, January, 2003
MEXICO CITY, Jan 9, 2003 (El Economista/Corporate Mexico by Internet Securities, Inc. via COMTEX) -- This year will be a good one for consumer credit as it is expected to grow by around 30%. The banks are also expected to change their financing strategies, as the sector will begin to regain ground in automobile loans and consumer credit, said Ursula Wilhelm, director of Analysis of Financial Services for Standard and Poor's (S&P).The executive commented that this growth would be due to the fact that the banks have realized the profitability of these credits. Automobile companies and retail stores have moved into credit and have gained significant ground on the banks in the face of demand from customers.According to the Bank of Mexico, consumer credit began to recover in...
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