MEXICO CITY, Dec 12, 2003 (El Universal/Corporate Mexico by Internet Securities, Inc. via COMTEX) -- Foreign investors are maintaining "cautious optimism" for 2004 , but they are expecting slow economic growth and that this will be subject to the fiscal reforms.
Anatol Von Hahn, director general of Scotiabank-Inverlat predicted that credit activity would grow 7% next year, "but will be subject to the approval of the changes." During a meeting with the media, the banker commented that movement in credit would be directly in proportion to the growth of the economy. However, he pointed out that retail banking was continuing to grow. Scotiabank alone has registered an increase of 15% on automobile financing.
"To us it is important that the consumer understands that the banking sector has started loaning again, mainly in mortgages because the terms are favorable and protect the client," said Von Hahn.
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