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

Summary

In July 2023, the balance of traditional bank deposits (demand + time) registered a real annual growth rate of 1.5%, while the balance of the current credit portfolio granted by commercial banks to the non-financial private sector (NFPS) recorded real annual growth of 5.1%.

Key points

• Key points:
• Further mild growth in traditional deposits among commercial banks, driven by term deposits.
• Household credit continues to grow, while the corporate portfolio picks up the pace in real terms.
• Rising demand in the business portfolio and in the credit card and automotive segments of the commercial banking sector in 2Q23.
• Higher rates at the end of the summer as US economic data and oil prices remain above expectations.

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