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Bank financing exceeds 10 bop in October 2024

At the end of October 2024, the balance of financing granted by commercial banks stood at 10 trillion 196 billion pesos, which meant real growth, that is, discounting inflation of 6.3 percent, reveals the Monetary Aggregates report. from the Bank of Mexico (BdeM).

Of the components of this indicator, the financing granted to the private sector, which constitutes 67 percent of the total, was 6 trillion 824 billion pesos and increased 7.1 percent annually.

For its part, financing to the federal public sector, which represents 25 percent of the total financing granted by commercial banks, stood at 2 trillion 509 billion pesos, which implied a positive variation of 9 percent.

The balance of financing to states and municipalities, with a 3 percent share of the financing granted by commercial banks, stood at 353 billion pesos, which translated into a decrease of 11.3 percent.

Finally, the balance of financing to other sectors, which includes financing to IPAB and Fonadin, and which makes up 5 percent of the total, stood at 509 billion pesos, a reduction of 1.6 percent.

Regarding the financing of development banks, that is, the one managed by the federal government, it closed October at a level of 2 trillion 154 billion pesos, which meant an annual growth of 3.1 percent.

Of this amount, 740.8 billion pesos corresponded to financing channeled to the private sector, with a participation of 35 percent of the total, which meant an annual increase of 14.5 percent.

Financing to states and municipalities, which represents 13 percent of the total, reported a balance of 287.7 billion pesos, presenting a reduction of 2.3 percent.

Financing to the federal public sector, whose proportion is 41 percent of total financing, stood at 889.6 billion pesos, which implied an annual decrease of 0.6 percent.

Finally, the balance of financing to other sectors, which includes financing to IPAB and Fonadin, and which represents 11 percent of the total, stood at 235.8 billion pesos, showing a negative rate of 6.6 percent.

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