Mexico | Monthly Report on Banking and the Financial System. February 2022

Summary

In November 2021, the balance of traditional bank deposits decreased at a nominal annual growth rate of 5.1%, the highest rate recorded since March this year. For its part, the current credit portfolio by commercial banks to the non-financial private sector (NFPS) grew 3.0% annually.

Key points

• Key points:
• The performance of term deposits limited a greater recovery of traditional bank deposits during the month of November 2021.
• In November 2021, bank credit to the non-financial private sector grew 3.0% nominal, which implied a lower real contraction than in previous months.
• The tightening of financial conditions poses a challenging scenario for emerging countries: IMF.
• A tug of war between the strength of the economy and the effect of FED's tightening cycle brought volatility to markets in January.

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