Mexico | In 2019, the average growth of bank credit to the private sector was one digit

Summary

In December 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 5.1 (2.2% real). This nominal annual growth rate is half of what was registered in December 2018 (10.0%).

Key points

• Key points:
• Pronounced slowdown of credit to companies in 2019: the nominal annual growth rate is reduced from 11.6% in January to 3.1% in December
• GDP performance and the slowdown in formal IMSS employment in 2019 limited the expansion of consumer credit
• In 2019, housing credit growth was favorable: its average nominal annual growth rate was double digits and of 10.5%

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