The Infonavit: A Giant of Housing Financing in Mexico

The Infonavit plays a crucial role in Mexico's financial structure, particularly due to the amount it allocates to workers for the purchase of homes. Compared to traditional banks, the Infonavit would be the second largest "bank" in terms of loan portfolio and assets.

As of September last year, Infonavit had a loan portfolio of 1.8 trillion pesos, which represents a 5.2% increase compared to the same period in 2022. The only institution surpassing it in loan amounts is BBVA Mexico, the Spanish-origin bank leading with a portfolio of 1.84 trillion pesos, according to data from the National Banking and Securities Commission (CNBV). In third place is Banorte, the Monterrey-based bank, reporting a loan portfolio of 1.07 trillion pesos as of last September. In terms of total assets, BBVA also tops the list with 3.11 trillion pesos, while the Infonavit has 2.45 trillion pesos. These figures are significant as a new law for the National Workers' Housing Fund Institute is set to be debated in February, with at least 20 proposed changes.

It's interesting to note how Infonavit, despite not being a bank in the traditional sense, exerts such a strong influence on the mortgage credit market. This highlights the importance of continuing to innovate and adapt to sector needs, especially with regulatory changes on the horizon that could impact its operations.