—The company is decisive in the financial inclusion in Mexico and in the countries in which it operates—
MEXICO CITY, June 26, 2017 (GLOBE NEWSWIRE) -- Banco Azteca, S.A., a banking and financial services institution committed to the development of financial products and services that generate progress and well-being in the communities in which it operates, and a subsidiary of Grupo Elektra (BMV:ELEKTRA*) (Latibex:XEKT), announced today that according to an Equifax prospecting study — global information solutions company and consumer credit reporting agency— the bank leads in financial inclusion in Peru, El Salvador and Honduras.
The report found that a significant portion of the general mass market in these countries, which is the target segment of Banco Azteca, did not have access to financial services before the Bank opened its doors. Since the opening of Banco Azteca, a substantial portion of this segment received loans for the first time.
In Peru, 64% of the prospecting market of Banco Azteca lacked financial services, and with the start of its operations, 55% of the segment’s participants received their first loan through the Bank, which allowed it to attain a leading position in financial inclusion in the country.
In the case of El Salvador, 81% of that market did not have access to banking products, and by means of the opening of Banco Azteca, 44% of them had access to banking; meanwhile in Honduras, 76% of the potential market of Banco Azteca was unattended, and 94% of the segment began to receive credit through Banco Azteca.
Similar to countries of Central and South America, Banco Azteca is a key proponent of financial inclusion in Mexico, with more than 11 million active deposit accounts and a similar number of credit accounts, significant figures for a country with about 32 million households.
Through interest-bearing deposit accounts – many of which are opened with a single peso and no commissions – designed to protect savings and to increase client assets, Banco Azteca Mexico had a balance of Ps.102,509 million in deposits as of March 2017. Through a gross credit portfolio of Ps.66,530 million at the same period, it solves the microfinance needs of millions of families and thousands of small businesses that were not served by traditional banks.
Banco Azteca has the firm commitment of promoting financial inclusion for a growing number of customers, with specific products for their needs, state-of-the-art technology, innovative processes and wide geographic coverage.
Through world-class financial services, accessible to thousands of families and businesses, Banco Azteca boosts the quality of life of households and growth of entrepreneurs, which strengthens the development of the communities in which it operates.
About Banco Azteca
It is a financial institution that offers consumer, personal, group and pawn loans, credit cards and deposit and investment options. In addition to Mexico, it also operates in Panama, Guatemala, Honduras, El Salvador and Peru. In its 15 years of operations in Mexico, Banco Azteca has been an institution committed to the development of financial products and services that generate progress and well-being for low-income families. With 1,735 branches, Banco Azteca has the second-largest banking network in Mexico.