A public accountant with an MA in Administration, Víctor Manuel Borrás Setién has had an extensive career in the Mexican financial sector. He collaborated in various business areas of Bancomer for thirty years, until he became General Director of the Corporate Banking and Firms for Grupo BBVA Bancomer. Since January 2001, he has been Director General of INFONAVIT. Under his direction, the institute has transformed the way
it is run and sorted out its finances, which has enabled it to multiply its ability to grant credit and offer real returns for the savings deposited in INFONAVIT workers’ individual accounts.
The institute grants two out of every three of the mortgages provided in Mexico, and administers approximately 30% of the funds in the Retirement Savings System. The number of credits offered annually and the volume of loans it administers would make Infonavit one of the ten leading mortgage institutions in the United States, the world’s largest mortgage market. Moreover, for the first time ever, it has ventured into the financial markets, becoming the main issuer of bonds supported by the country's mortgages. As a result of Borrás’ direction, Infonavit’s financial solidity, based on the strength of its income and the control of overdue debts (currently less than 5%) has made it a major engine of investment throughout the country. During his administration, the institute has obtained financial profits of over $380 billion pesos.
