Informality limits banking for SMEs, says HSBC

Although the spread of bank credit has reached various sectors, the high informality in the country can limit inclusion efforts, especially of small and medium-sized enterprises (SMEs), said Jorge Arce, president and CEO of HSBC Mexico and Latin America. “The informal sector would define it as the sector in which banking does not have access to information. So, if you are a SME and you do not have a bank account, you do not have a history of tra…