Mexico | Total credit and banking deposits slowed down again in June

Summary

In June, total credit granted to the private sector and total banking deposits slowed down as the tailwind effects associated with the pandemic (e.g. precautory savings, demand of credit lines) slowly fade and gradually leave the spotlight to the adverse effects of the economic recession.

Key points

• Key points:
• For second month in a row consumer credit growth was negative
• The boost from higher demand of liquidity starts to fade for corporate credit
• The trimming process of total deposits is underway from the high levels reached in April

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