Mexico | A favorable economic environment supported banking activity in 2Q22

Summary

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.

Key points

• Key points:
• Traditional bank deposits recovered their dynamism in the second quarter of the year.
• The breakdown of bank credit to the private sector shows a widespread recovery at the end of the first semester.
• Average real increase in consumer credit balances of 11.0% during the first half of the year.
• Demand deposits maintained a real growth of 3.5% during the second quarter of the year.

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