Mexico | Monthly Report on Banking and the Financial System. June 2023

Summary

In April 2023, the balance of the current credit portfolio granted by commercial banks to the non-financial private sector registered real YoY growth of 5.1% (11.6% nominal), while the balance of traditional bank deposits registered real YoY growth of 0.2% (6.4% nominal).

Key points

• Key points:
• The real balances of performing business credit decreased their dynamism in April.
• Term deposits were the main source of growth for traditional bank deposits in April.
• Basic credit indicators show increases in real terms for the consumer and housing portfolios.
• Increase in the interest rate in an environment of economic growth, explains the recent change in the composition of financial savings in Mexico.
• Gradual alignment of market expectations following the more restrictive projections of the FED. The Mexican peso, at its strongest level since 2015.

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