Mexico's BBVA Bancomer Expects To Extend 70,000 Mortgages In 2012
January 19 2012 - 9:30PM
Dow Jones News
The Mexican subsidiary of Spanish financial group Banco Bilbao
Vizcaya Argentaria SA (BBVA, BBVA.MC) said Thursday it extended
33,000 mortgages in 2011, and that it expects to grant another
70,000 this year.
Government mortgage lender Infonavit granted more than 500,000
mortgages last year, covering the bulk of the 650,000 housing
credits in the country for 2011.
BBVA Bancomer, as BBVA's Mexican unit is known, said it expects
to issue mortgage credit worth 15 billion pesos ($1.14 billion)
this year.
-By Amy Guthrie, Dow Jones Newswires;
amy.guthrie@dowjones.com
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