Mexico | Bank credit to the private sector stabilizes its growth rate in one digit

Summary

In September 2019, the nominal annual growth rate of the balance of the current credit portfolio granted by commercial banks to the non-financial private sector was 7.7% (4.5% real). This growth rate was lower than that of the previous month (8.9%) and also to the rate recorded in September 2018 (11.8%).

Key points

• Key points:
• Both the dynamism of credit to SMEs and larger companies has slowed down throughout 2019
• The limited growth of the main components of consumer credit persists, except for payroll, which has increased throughout 2019
• In September, housing credit grew for the seventh month in a double digit way

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