Mexico and Guatemala see record credit‑card balances and soaring delinquency

In Mexico, total credit‑card balances reached a historic 709,267 million pesos at the end of June 2026, the highest level since 1995 and up 8.16 % year‑on‑year. Credit to the private sector grew 3.2 % YoY to 7.472 trillion pesos, with credit‑card loans accounting for 36.25 % of total consumer credit. BBVA held the largest card portfolio at 234,208 million pesos, followed by Banamex (172,158 million) and Banorte (83,265 million), together representing 67.28 % of the market. BBVA’s delinquency rate on cards was 2.90 %, below the system average of 3.51 %.

In Guatemala, the banking system expanded 2.25 % in the first half of 2026 to Q278.7 billion, while overall loan delinquency fell to 2.63 % from 2.76 %. However, credit‑card delinquency surged above 43 %, prompting Moody’s to warn that rapid growth in unsecured consumer credit is eroding household asset quality. Analysts highlighted the need for tighter credit‑risk assessment as the debt burden outpaces repayment capacity.