Mexico | Less dynamism of credit to the non-financial private sector and deposits in May

Summary

In May 2020, the balance of current credit granted by commercial banks to the non-financial private sector grew at a nominal annual rate of 8.2% (5.2% real), lower than the rate observed the previous month (11.2%) and the nominal rate of 8.9% registered the same month of 2019.

Key points

• Key points:
• Business credit maintains a double-digit nominal growth rate, although more moderate than that observed in March and April
• Consumer credit registers its first drop in nominal terms since August 2010
• Housing loan manages to maintain its growth rate
• Bank deposits remain resilient, despite the lower dynamism, given the impulse for precautionary savings derived from the pandemic
• Demand deposits fall between April and May despite the increase in savings by individuals

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