Mexico: Banking credit grew in September, with corporate loans accelerating

  • Credit rose 3.9% y/y in real terms, with the 3 categories higher, noting consumer (+6.2%) and corporate loans (+3.0%)

  • Non-performing loans (NPLs) improved again, standing at 2.3% of the total portfolio, driven by corporates

  • We maintain our opinion that credit will keep growing in the rest of 2022, boosted by domestic demand
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