Banco Inmobiliario Mexicano SA Institución de Banca Múltiple expects to lend more than 9 billion Mexican pesos for residential and commercial construction in 2017, an 11% increase from 2016, El Economista reported.

The bank plans on financing the construction of 19,000 homes and a number of small shopping centers in Mexico, General Manager Gustavo Guzmán Grajales said, according to the newspaper.

The bank is moderately optimistic about the prospects for 2017, but "must be cautious," Guzmán Grajales was quoted as saying.

As of Jan 25, US$1 was equivalent to 21.35 Mexican pesos.