Overview

• Banxico published Circular 6/2025 on July 18, finalizing a rule that allows any bank to offer payroll loans regardless of where workers’ salaries are deposited.
• Banks have until August 29 to redesign their payroll-loan offerings in line with the new regulation.
• In May, 15 of 52 banks placed 414,229 payroll loans, led by BBVA, Banorte and Banamex, which accounted for 5.2% of total bank lending.
• Payroll-loan growth slowed to 8.3% year-on-year in May, down from 10.4% a year earlier.
• Formal IMSS employment has declined for three months, and Condusef warns borrowers to compare banks’ varying interest rates.