Mexico | Monthly Report on Banking and the Financial System. June 2020

Summary

The liquidation process of Banco Ahorro Famsa begins. Consumer loans are no longer driving total private sector financing. Bank deposits reverse the weakness shown since the second half of 2019.

Key points

• Key points:
• The IMF draws attention to the decoupling of financial markets and the fundamentals
• Banxico emphasizes the robustness of the financial system in the face of the pandemic
• Infonavit's higher delinquency rate is the result of good accounting practice
• Credit to agricultural and industrial activities accelerates in 1Q20
• The new outbreak of COVID-19 in the US leads to slight market caution. The Mexican peso stands out negatively in June

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