Publications

The effects of the exchange rate depreciation and the "Buen fin" influenced the acceleration of current credit to a nominal annual rate of 13.2% in November. This also influenced the acceleration of bank deposits up to 10.5% nominal. Going forward, the weakness of activity and employment points to a slowdown.

We study mexican households savings and consumer credit patterns through the Covid-19 pandemic and the dynamics of these variables during the reopening period.

The reduction in COVID-19 cases during October seems to have influenced a heterogeneous boost to credit, while the relevant rise in formal employment and the cycle of monetary tightening were reflected in an incipient change in the trend of term deposits.

In August 2021, the nominal balance of the current loan portfolio granted by commercial banks to the non-financial private sector fell 3.1% annually (-8.3% in real terms). By credit aggregates, the annual nominal variations were: consumption, -0.3%; housing, 9.4%, and business, -8.4%.

A milder contraction in the annual growth rate of outstanding balances for the second consecutive month provides encouraging signs that the negative impact of the pandemic on banking credit has moved past its worst point and could be on a recovery path.

May could represent a turning point in the dynamics of credit to the NFPS, with a smaller contraction than the one in April and a better performance of the portfolios that comprise it. An improvement in the activity and employment indicators in the medium term would consolidate a better performance in the credit market.

In January 2021, the balance of current credit granted by commercial banks to the non-financial private sector once again registered an annual fall in nominal terms, which was -1.3% (-4.6% in real terms), practically the same as that observed in December (-1.2%).

In December 2020, the balance of current credit granted by commercial banks to the non-financial private sector registered for the second consecutive month a nominal annual fall, which was -1.2% (-4.2% in real terms), higher than the reduction registered the previous month (-0.8%).