One of the banking sector's best businesses is credit cards. The number of credit cards in circulation is at an all-time high, and in the first few months of the year, issuance was 16 times higher than last year, according to official figures.
The increase in credit card issuance comes after the country experienced its highest inflation levels in the last two decades, so analysts do not rule out the possibility that this segment of credit could face an increase in defaults.
The same credit institutions acknowledge that credit card issuance has performed very favorably in the first months of the year compared to previous years, although they indicate that this is a consequence of the large number of products banks have launched on the market.
The latest figures from the National Banking and Securities Commission (CNBV), which are from May of this year, indicate that the number of cards in circulation up to that month totaled 32,428,796, while in the same month last year the number was 28,802,903.
