BBVA Bancomer, Mexico's largest bank, has reacted to the Infonavit bank's market shares, as the public body has decided to raise its credit grant to beneficiaries just over one million 600 thousand pesos.
On Wednesday BBVA Bancomer's chief economist Carlos Serrano even considered that the next administration should consider the role of a public housing facility.
"We think it would be very fortunate if the new administration considers the role of Infonaviit," he said.
In the presentation of the state of real estate survey, the Spanish equity bank explained that the mortgage market has contracted in 2018, as the bank and Fovissste have declined while Infonavit is growing.
He explained that Infonavit has returned its participation by focusing on the central parts. In this way, in 2016, it came from 65,000 options and a bank of 24,000; in 2018 the proportion was 71,000 against 20,000.
In 2016 in Infonavit, Bancomer said that the amount born in 2016 was 38 000 million pesos and 49 000 million banks; while by 2018 the share was 50 000 million and 40 000 million respectively.
In addition, the Department explained that this co-financing has also declined since, before increasing Infonavitis credit growth, co-financing ceases to be necessary.
"We think it is necessary to question whether an institution is required to participate in markets where market failures are not valued, compete with banks with the lowest prices in history, even though prices are higher, and we believe it is a good time to consider the role of Infonavitis again, would play a role in the middle part of residential areas, which are segments that banks serve well, and the state should have a housing solution for the poorest areas, "Serrano said.
The economist added that although Infonavit has increased the number of credits, their number has not increased significantly. "At the end of the day, the number of credits issued by the country did not increase, as the transition took place, Infonavit will grant more credit and the bank will grant less credit," he said.
He added: "In the case of infotainment, we must try to increase the number of credits that we think could be done if they were to focus more on families than using affordable housing or spending resources on pensions."
In the last paragraph, Serrano explained that in the re-evaluation of Infonavit's role, the resources of the employee's housing portfolio could also be channeled to the corresponding Afore countries and seek to solve the problem of pensions in part.
"One way (to save on retirement) could be what is now meant to downgrade Infonavit, moving directly to Aforee's employee, which reduces the savings rate, which does not solve the problem at all," he said.
Bancomer's chief economist explained that if an employee wants credit from Infonavit's sum, another bank that is cheaper (the interest rate average of 10.43 percent to 12.5 percent of the public corporation) is due to the uncertainty that can be done by storing the sub account.
"Employees, eligible applicants, have significant savings in Infonaavit in the bottom-up and in many cases the beneficiaries want to get a mortgage even if it is higher, fearing what can happen to those resources," he said.