Fitch: Gradual Recovery of Sofipos; Challenges Prevail

MONTERREY, Mexico--(BUSINESS WIRE)-- The Sofipos (Popular Financial Entities) sector in Mexico is concentrated in a few entities from the total registered entities at the CNBV (National Banking and Securities Commission), according to a new Fitch Ratings dashboard report. In this report, the agency highlights the market concentration, the high impairments but adequate reserves, as well as their funding benefited by access to customer deposits. The report also points out the sector's pressured profitability that has generated low internal capital and a law whose approval is still pending.

The full report, 'Mexican Payroll Lenders Dashboard' is available on Fitch's website at 'www.fitchratings.com'.

Additional information is available on www.fitchratings.com.

Mexican Sofipos -- Dashboardhttps://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=879260

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View source version on businesswire.com: http://www.businesswire.com/news/home/20160331006398/en/

Fitch Ratings
Angel Maass, +52 8399 9148
Associate Director
Fitch Mexico S.A. de C.V.
Prol. Alfonso Reyes 2612
Monterrey, N.L., Mexico
or
Monica Ibarra, +52 8399 9150
Analyst
or
Media Relations:
Elizabeth Fogerty, +1-212-908-0526
New York
[email protected]

Source: Fitch Ratings

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