EconomyMexico has 21,334 million pesos in abandoned bank accounts

Mexico has 21,334 million pesos in abandoned bank accounts

Until last August, the money in accounts abandoned by bank users amounts to 21,334 million pesos and this amount represents 0.3% of the total that banks in Mexico capture.

The National Banking and Securities Commission (CNBV) reported that abandoned accounts are those that have not registered movements for more than three years.

"According to the Law of Credit Institutions in force, if within the following three years the resources are not claimed, their rights prescribe in favor of public charity, in the event that the balance of the account does not exceed 300 Units of Measurement and Updating (UMAs)", detailed the CNBV.

The five largest banks in Mexico are those who accumulate 94% of the resources. Citibanamex is the bank with the highest percentage of accounts, followed by BBVA Mexico with 27.6% of accounts; Banorte concentrates 15.8% of the accounts.

Santander has 10.5% of the accounts, HSBC 5.2% of them and Scotiabank 4.5% of the total accounts abandoned by users.

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