Mexico | Monthly Report on Banking and the Financial System. April 2024

Summary

In February 2024, the balance of traditional bank deposits (sight + term) registered a real annual growth rate of 5.8%, while the balance of the current credit portfolio granted by commercial banks to the non-financial private sector (NFPS) recorded a real annual growth of 5.1%.

Key points

• Key points:
• Traditional bank deposits surged as sight deposits increased their dynamism.
• Housing and business portfolios bounced back, while consumer credit slowed down.
• Current credit in the Central region strengthened in the 4Q23, underpinned by the services sector.
• According to the update of the Balance of Risks by the CESF, solvency and liquidity conditions of the Mexican financial system remain solid.
• High rates for longer in a no-landing context?

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