Mexico | Monthly report on banking and the financial system. July 2024.

Summary

Credit to the SPNF maintained double-digit nominal growth rates in May (11.4%) driven by the dynamism of the consumer portfolio, particularly in the automotive segment, and a rebound in business credit. This rebound stemmed from credit to the services sector all across the country.

Key points

• Key points:
• Sight deposits supported the dynamism of traditional deposits in May.
• Service and industrial sectors led the growth of credit in north and center regions during 1Q24.
• Mexican assets volatility waned heading into summer as markets still price in a soft landing scenario.

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