Bank credit to the Mexican countryside grew 3.9 percent in real terms between May 29, 2023, when the National Development Fund (FND) disappeared, and November 2024, according to figures from the Bank of Mexico (BdeM).
In that year and a half, the current credit portfolio granted to companies in the primary sector went from 120,981 million pesos to 134,827 million.
Although private credit to the countryside has not taken off, the credit that Mexican banks grant to the primary sector is set to end in 2024 at its highest level since records began.
In June of last year, the financing portfolio reached its highest historical amount, standing at 135,321 million pesos, and since then there have been marginal increases and falls.
Experts and businessmen warned that with the extinction of the FND, only the Trusts Established in Relation to Agriculture of the Bank of Mexico would grant loans to the countryside, since the private banks demanded more guarantees; However, executives from the banking sector assured that it would be a good opportunity to serve the segment.