Grupo Financiero BBVA Bancomer SA de CV plans to disburse 60.0 billion Mexican pesos in real estate credit in 2018, according to a report by El Economista.
The banking group will provide housing credit both to housing developers and individuals, according to the report, reflecting the Spanish-owned bank's optimism for Mexico's macroeconomic situation in the country.
According to the publication, BBVA Bancomer, already the biggest player in the Mexican housing credit market, believes the real estate market is the area that could trigger economic success.
"This is the reason we will continue to promote initiatives that help companies to be more productive, to build more and people to give them the necessary tools so that they can build," the group's CEO, Eduardo Osuna, reportedly said.
As of Jan. 31, US$1 was equivalent to 18.60 Mexican pesos.
