Mexico City. Until last March, more than a million credit cards have been canceled by bank users, this precisely one year after the start of the Covid-19 pandemic, figures from the National Banking and Securities Commission (CNBV) reveal ).
According to the agency, the banks with the highest cardholder losses were Santander, Citibanamex, Banorte and HSBC, which was partially offset by institutions that gained clients such as BBVA, Banco Azteca, Banregio and Banco del Bajío, among others.
According to the CNBV, until March of this year there are a total of 27 million 707 thousand 743 credit cards in the country; However, in that same month, but in 2020 the amount was 28 million 720 thousand 807; that is, on a net basis, one million 13 thousand 64 accounts were canceled.
This occurs at a time when the country’s authorities assure that economic conditions are better than a year ago and that we are living in an environment of economic recovery.
In addition, it also occurs at a stage in which bank credit for consumption has been slowing for just over a year and in which people, due to uncertainty, prefer to save.
According to data from the regulator, in Santander, the number of credit card contracts in force until March was 3 million 376, and in 2020 the number was 3 million 746 thousand 301, which represents that they were canceled 745,925. This is the financial institution that had one of the worst results.
In turn, the figures indicate that Citibanamex, the bank that has the largest number of credit cards in the country, reported having a total of 7 million 73 thousand 112 credit cards in circulation until March 2021, while a year ago the figure was 7 million 648 thousand 913, which means that 575 thousand 801 accounts of this type were canceled in the past 12 months.
For its part, Banorte reported that until the third month of this year it had one million 627 thousand 359 accounts in circulation, while in the same period last year there were a number of one million 668 thousand 290 cards of this type. In other words, a total of 40,931 accounts were terminated.
The fact that BBVA, the bank with the largest presence in Mexico, reported a total of 6 million 23 thousand 25 credit cards until the end of the first quarter of the year, while in the same month but in 2020 the figure was 5 million 258 thousand 540 credit accounts, that is, it has managed to place 764 thousand 485 new plastics.
Only among these four banks, which are considered of systemic importance (in case of failure they could put the financial system at risk) there are 16 million 959 thousand 387 credit cards.
Meanwhile, HSBC reported to the CNBV that as of March 2021 it has one million 359 thousand 994 credit cards in circulation, while in the same month last year the figure was one million 595 thousand 788, that is, 235 thousand 794 accounts were terminated.
Scotiabank reported that until the third month of the year it has a total of 579 thousand 376 credit cards, while a year ago the number was 662 thousand 194, for which 82 thousand 818 accounts were canceled.
The case of Banco Azteca stands out, which at the end of March reported 551,430 cards; while a year ago the figure was just 64,679.