Mexican banks face good year despite slower GDP growth

Significance

The most high-profile news to come out of the sector in 2022 was Citigroup’s decision in January to sell its local retail operations, a process that is still ongoing.

Impacts

• Banks’ readiness to lend will be crucial for many companies this year as they struggle amid slower economic growth.
• Banks will continue to invest heavily in digital transformation to improve customer experience and reduce costs.
• Banks are likely to step up efforts to combat growing cyber crime to reduce reputational risk.