Mexico | Monthly report on banking and the financial system. March 2026.

Summary

Current loans growth to non-financial private sector in January 2026 reached the lowest point since 2021 (1.8% in real anual terms), as the business loan portfolio had a negative growth contribution. Banking deposits real anual growth came at 0.9% influenced by exchange rate appreciation.

Key points

• Key points:
• Exchange rate appreciation negatively impacted the performance of bank deposits during the first month of the year.
• The bank loan portfolio continued to slow down in January 2026.
• Economic uncertainty and slower credit growth marked regional performance in Q4 2025.
• Should we be worried about private credit?

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