They ask for more credit | The herald of Aguascalientes

Charlene Domínguez
Agencia Reforma

MEXICO CITY.- In a context of rising interest rates, the demand for consumer credit increased in the last quarter, despite the more restrictive conditions on personal loans.
The above according to the Survey on general conditions and standards in the bank credit market corresponding to the period from July to September 2022, prepared by the Bank of Mexico (Banxico).
This survey collects qualitative information from the administrators in charge of credit granting policies in commercial banks operating in the country about the evolution of credit demand and the general conditions or standards of credit approval on the market.
Banks with the largest market share have seen an average increase in demand in the segments of large non-financial corporations, non-financial SMEs, non-bank financial intermediaries, credit cards, auto loans, personal loans and mortgages.
Regarding the general or standard terms of credit approval in the third quarter of 2022, banks with the largest market share reported, on average, stricter general terms or standards of credit approval in the non-bank financial intermediary segments and of personal loans.
Regarding consumer credit through cards, banks as a whole have reported on average an increase in demand for credit cards.
As for consumer credit, in addition to credit cards, the banks with the highest participation have seen an increase in demand for auto and personal loans, according to Banxico.
The central bank reported that commercial banks as a whole have perceived, on average, a deterioration in the domestic and international economic environment and in the confidence of businesses and households in economic activity.
For their part, the banks with the highest participation reported a deterioration in the economic situation of firms, while the banks with the lowest participation perceived, on average, a deterioration in the employment conditions of households.
In addition, according to the survey, commercial banking as a whole has seen an average increase in the cost of deposits.