Mexico | Monthly Report on Banking and the Financial System. January 2024

In November 2023, the balance of traditional bank deposits (sight + term) registered a real annual growth rate of 5.4%, while the balance of the current credit portfolio granted by commercial banks to the non-financial private sector (NFPS) grew 5.6% annually in real terms.

Key points

• Key points:
• In November, the dynamism of traditional deposits increased, mainly driven by the real acceleration of time deposits.
• Credit balances registered a slowdown in real terms in all credit portfolios to the NFPS in November.
• In 3Q23, current business credit balances increase their dynamism in the North and North Center regions.
• In Mexico, total financial savings decreased 2.3%, while total financing decreased 1.0% real annual in 1Q23.
• High returns for risky assets in 2023 as soft landing expectations became widespread. But, isn't this scenario a fragile one?

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