The effectiveness with which a country's financial system functions to channel savings into productive activities has an important effect on economic growth. The way savings get directed into productive activities depends crucially on a country's financial institutions and their effectiveness. The last two decades have been ones of tremendous change in Mexico's financial structure with a deep impact on economic activity and growth. The aim of this paper is twofold: first, to describe the developments that have transpired in Mexico's financial structure over the last two decades.