A general store near the U.S.-Mexico border in Eagle Pass, Texas, on Wednesday, Oct. 20, 2022. By 2032, Latino consumers and small-business owners are expected to generate $235 billion in financial-services revenue and make up 8% of the sector’s U.S. market, according to new research from consulting giant McKinsey.
Sergio Flores/Bloomberg
With the Latino market poised for big growth, U.S. banks have an opportunity to gain market share by attracting an underserved population of both consumers and business owners, according to new research from consulting giant McKinsey.
