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

Summary

During October 2021, traditional private sector deposits increased in real terms, driven by employment and the rate hike cycle. The current credit portfolio granted by commercial banks to the non-financial private sector (NFPS) grew 0.2% in nominal terms.

Key points

• Key points:
• The consumer and business portfolios once again posted annual contractions in real terms, while the housing portfolio slowed down in October.
• Mexican financial system overcomes the adverse effects of the pandemic without putting its stability at risk.
• In the Central region, aggregate demand factors explain the drop in business credit to a greater extent than in other regions.
• Household financial assets concentrated in retirement savings accounts: ENIFH.
• Limited effects of COVID on pension systems: population aging remains the main challenge.

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