Gerónimo Ugarte
Gerónimo Ugarte
Senior Economist
Mexico City

Gerónimo Ugarte Bedwell is a Senior Economist at BBVA Research Mexico, focusing mainly on Banking and Financial System topics.

Gerónimo has a BA in Economics from Instituto Tecnológico Autónomo de México (ITAM), a Master´s in Economics from Universitat Pompeu Fabra, and conducted his PhD in Economics studies at Tel Aviv University.

Additionally, Gerónimo was awarded the National Award in Economics of the Colegio Nacional de Economistas and has been a professor of Economics (Microeconomics and Macroeconomics) at the FCA postgraduate studies unit of Universidad Nacional Autónoma de México (UNAM). Besides that, he has participated as a speaker in international academic fora on the areas of Social and Economic Networks and Uncertainty Theory.

Latest publications

The withdrawal of Accendo banking license does not represent a risk for the stabilility of the banking system. This was confirmed by the Financial System Stability Board as it stressed that the fundamentals of the system remain sound. However, concerns about the weakness of the credit granted to the private sector prevail.
The growth of bank deposits accelerated in July due to higher demand deposits from both individuals and companies. This dynamic could be associated with a relevant growth in formal employment together with a non-generalized slowdown in consumption after the rebound in COVID infections.
For the third consecutive month, the contraction in the annual growth rate of current portfolio balances to the non-financial private sector has been milder, which reaffirms that total bank credit is on the way to a recovery, although its magnitude differs across portfolios.