Mexico | In November, credit to the non-financial private sector fell in nominal terms

Summary

In November 2020, the balance of outstanding credit granted by commercial banks to the non-financial private sector registered a nominal annual fall of -0.8% (-4.0% in real terms), the first contraction observed in this credit aggregate since April 2010 (when the fall in the balance was -0.7%).

Key points

• Key points:
• The performance of the business loan portfolio is in negative territory in nominal terms for the first time in 10 years
• Despite the expansion of the “El Buen Fin” program, the deterioration in consumer credit was not reversed
• Housing credit is still growing, although with a clear downward trend

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