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Banxico: Commercial banking credit to Mexico’s private sector up 12.8% in February YOY

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Banxico: Commercial banking credit to Mexico’s private sector up 12.8% in February YOY

Commercial banking credit to Mexico's private sector grew12.8% annually in February, El Economistareported March 31, citing figures from Banco de México.

Corporate credit expanded 16.4% in the period while consumercredit increased 8.8%, the report said.

Meanwhile, Mexican savings and loan cooperatives, or Socaps,posted profits of some 1.87 billion Mexican pesos in 2015, up 46.4% from 2014, El Economista reported the same day,citing banking and securities commission CNBV.

As of March 31, US$1was equivalent to 17.13 Mexican pesos.