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In May 2026, outstanding bank credit to the non-financial private sector (NFPS) grew by 1.5% year-on-year in real terms, supported by consumer lending, although regional performance remained uneven. Meanwhile, bank deposits in Mexico regained momentum, posting 2.2% real annual growth, outperforming previous months.

In April 2026, the outstanding credit to the non-financial private sector continued to slow, reaching 1.3% in real annual terms, due to the fourth consecutive negative contribution from corporate lending, influenced by currency appreciation. Deposit growth accelerated to 1.6% in real annual terms, driven by term deposits.

In February 2026, outstanding credit granted to the non-financial private sector (NFPS) continued to slowdown, reaching a new low since 2022 (1.4% YoY in real terms), driven by a weak corporate lending. Deposits growth recovered to 2.1% YoY in real terms, despite currency appreciation.

Current loans growth to non-financial private sector in December came at 2.6% in real anual terms, as the Mexican peso strength weighed on the business loan portfolio. Banking deposits real anual growth came at 2.2% supported by higher earnings during the holiday season.

Current loans growth to non-financial private sector in November came at 3.3% in real anual terms, the lowest rate in 2025 despite retail discounts and promotions during Buen Fin . Banking deposits real anual growth came at 1.4% as term deposits posted its first negative growth rate since late 2022.

The tightening steps of the CBRT in the aftermath of the March shock were followed by much tighter financial conditions and additional macro-prudential measures throughout April and early May. Deposit rates rose to their highest level since Dec24. Credit growth maintains its limited growth.

Credit growth accelerated throughout February beyond the growth caps. Therefore, the monthly growth limit has been reduced further for FC lending at the start of March. The CBRT aims not to allow demand conditions to contain the disinflation process, signaling new macro-prudential measures if necessary.