Increased acquisition of non-banking firms

In the same month last year, deposits from non-bank institutions—which include Savings and Loan Cooperatives (Socaps), Popular Financial Societies (Sofipos), and Credit Unions—represented 1.0 percent of GDP. Credit: Courtesy

Driven by the "hook" of offering higher returns than banks, the collection of non-bank financial intermediaries authorized to receive deposits from the public increased to 1.3 percent of the Gross Domestic Product (GDP) in March of this year, according to data from the National Banking and Securities Commission ( CNBV ).