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).

Key points

• Key points:
• The slowdown of credit to companies in October and November indicates the end of the substitution of external financing in favor of internal bank credit
• Consumer credit keeps pace of growth thanks to the performance of credit cards and payroll credit
• In November, the housing loans completed nine consecutive months registering a nominal double-digit growth rate

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