Iván Martínez Urquijo
Iván Martínez Urquijo
Principal Economist
Mexico City

Iván Martinez Urquijo is Principal Economist in the Banking and Financial System Unit. He is in charge of analysing the dynamics of Mexico’s banking system deposits and credit portfolios and monitoring the performance of the main institutions of the Mexican financial system.

Previously, he worked at BBVA Research Macroeconomic Analysis team as a Senior Economist. In this position Ivan was in charge of monitoring financial markets and performing analysis on monetary policy, exchange rate and interest rates.

Before joining BBVA, Ivan worked as a Senior Analyst at the Financial Investment Unit of the Mexican Institute of Social Security (IMSS), a department in charge of the asset allocation of Insitute’s reserves and pension fund resources.

He holds a BSc in Economics and a MSc in Finance from ITAM. At present he is in the process of earning the CFA certification.

Latest publications

Recent troubles at some shadow banks show the vulnerabilities of its funding model and could translate into liquidity problems for the sector. However, at present, this situation does not represent a risk for the financial system as a whole.
In July 2022, the balance of the current credit portfolio granted by commercial banks to the non-financial private sector (NFPS) grew at a real annual rate of 3.2%, while traditional bank deposits (demand + term) registered a real annual growth rate of 1.9%.
In 2Q22, the recovery of credit activity was reflected mainly on the financing of households (consumption and housing), while financing to companies still shows slow dynamism. This recovery was supported by the sustained growth of formal employment and wages that partially offset the environment of higher interest rates.