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

Summary

In October 2023, the balance of traditional bank deposits (sight + term) registered a real annual growth rate of 4.5%, while the balance of the current credit portfolio granted by commercial banks to the non-financial private sector (NFPS) recorded a real annual growth of 5.9%.

Key points

• Key points:
• Traditional bank deposits stabilize their dynamism; time deposits maintain double-digit real growth.
• Credit to the non-financial private sector increases its dynamism in October, despite the slight slowdown in credit to households.
• Banks anticipate greater demand for credit for companies and financial entities, despite tighter granting conditions.
• In the face of a complex and uncertain global macrofinancial environment, the Mexican financial system maintains a solid and resilient position: Financial Stability Report (Banxico).
• Are markets overpricing rate cut bets after the FED pivot?

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