Mexico | Bank credit to private sector has been growing at a single digit for seven months

Summary

In October and November 2019, the nominal annual growth rates of the balance of the current credit portfolio granted by commercial banks to the non-financial private sector were 5.7 and 5.8%, respectively (2.6% real in October and 2.8% real in November).

Key points

• Key points:
• The slowdown of credit to companies in October and November indicates the end of the substitution of external financing in favor of internal bank credit
• Consumer credit keeps pace of growth thanks to the performance of credit cards and payroll credit
• In November, the housing loans completed nine consecutive months registering a nominal double-digit growth rate

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