Commercial bank lending up 12.3% in year through October

- Friday, December 2, 2011

Commercial bank lending up 12.3% in year through October

The loan portfolio of commercial banks in Mexico grew 12.3% to 3tn pesos (US$221bn) in the year through October, according to a release from central bank Banxico.

Loans to the private sector increased 9.4% to 2.13tn pesos at end-October, accounting for 69.5% of the total portfolio, whereas loans to the public sector rose 3.4% to 215bn pesos.

Financing from development banks in Mexico grew 5.4% to 467bn pesos.

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