January 26, 2023
Gerónimo Ugarte Bedwell
Gerónimo Ugarte Bedwell is a Principal 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.
The challenge for commercial banking consists in channeling resources towards “green” activities that promote biodiversity, generate value spillovers in ecological terms, and do not sacrifice long-term efficiency in the productive network.
In November 2022, the nominal balance of the current credit portfolio granted by commercial banks to the non-financial private sector (NFPS) grew at an annual rate of 12.8% (4.7% real), while traditional bank deposits (sight + term) exhibited a nominal variation of 7.5%YoY (-0.3% real).
According to the Financial Stability Report (Banxico) and the Analysis on the Stability of the Mexican Financial System (IMF), the most relevant risk to the Mexcian financial system is that of additional and sustained tightening of financial conditions in a context of high inflation and lower prospects for economic growth.