Overview

• Credit-card contracts rose 5.1% year-on-year to 37.16 million by June 2025, marking the highest level on record according to CNBV data.
• BBVA México led placements with 1.38 million new cards, driving most of the sector’s growth while BanCoppel and Banco Azteca together shed nearly one million accounts.
• The delinquency index held steady at 3.30% as average annual interest rates remained above 40%, highlighting potential household vulnerability if incomes weaken further.
• Official and private indicators show private consumption moderating in the first half of 2025, with back-to-school ticket sizes jumping about 30% as families turn to cards for essential spending.
• Banks are leaning on consumer credit for revenue amid low economic momentum, including 1.6% GDP growth and cautious household spending patterns.