Only half of Hispanics in the US are bank customers

With nearly one in five Americans not customers of a bank, Mintel predicts that banks will begin offering variations of their existing products to attract new markets, with the most obvious target market being Hispanics. In sharp contrast to the population as a whole, only one-half of Hispanics have a relationship with a bank. Additionally, their level of ownership for other retail banking products such as mortgages and loans is considerably lower than average. While four in ten consumers have a mortgage, only 27% of Hispanics do. Also, nearly two-thirds of all customers have some type of loan, yet less than half of Hispanics do. This signals an enormous opportunity for retail banks to capture Hispanic business.

bank , customers