Mexico | Monthly report on banking and the financial system. October 2024

Summary

In August, both deposits and credit rose in annual terms with respect to July, supported, in part, by the accounting effect of the exchange rate depreciation. Companies and other financial intermediaries were behind the increase in deposits, while consumer and business credit supported credit.

Key points

• Key points:
• Deposits growth accelerated in August supported by the effect of exchange rate depreciation
• Current credit to the non-financial private sector increased its dynamism in August
• A widespread growth of current credit across regions was registered during 2Q24
• Higher long term rates and gains in equity markets after a month of the first FED cut

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