Iván Martínez Urquijo
•B.A. in Economics, Instituto Tecnológico Autónomo de México (ITAM)
•MsC in Finance, ITAM
•Diploma in Econometric Models, ITAM
In November 2019, the growth of bank deposits maintained its deceleration trend compared to what was observed at the beginning of the year, although it registered a marginal advance with respect to October, which may be associated with seasonal factors.
January 20, 2020
Mexico | Bank credit to private sector has been growing at a single digit for seven months
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).
In the first nine months of 2019, the main source of growth in bank credit to the private sector was business loans. Commercial bank deposits lose dynamism. Weakness of external financing sources is influenced by concerns regarding the global economic cycle and internal uncertainty.