Mexico | Banking deposits confirmed its strength in August

Summary

Fundamentals have been overweighted by Pandemic dynamics when explaining banking deposits, as consumption constrains and precautionary savings have supported sight deposits since March 2020. Going forward, the absence of a winter COVID wave could pave the way to a normalized behavior of consumption and savings.

Key points

• Key points:
• Sight deposits barely in line with expectations for a month of August
• Downward trend of Term deposits continued
• Higher risk aversion during August supported the growth of Debt Mutual Funds

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