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Loan portfolios of Mexican banks rise 4.9% in April

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Loan portfolios of Mexican banks rise 4.9% in April

Mexican banks recorded a 4.9% increase in their loan portfolios in April, amounting to 5.28 trillion Mexican pesos, El Economista reported, citing data from the country's banking and securities commission CNBV.

Commercial credit increased 5.6% year over year, to reach a 64.2% share of the credit sector, or 3.39 trillion pesos. Loans to businesses also increased 8.2% annually, contributing 2.65 trillion pesos to the total credit balance.

Moreover, consumer loans registered a yearly increase of 1.7%, equivalent to 19.8% of the overall loan portfolios. Credit granted to government entities declined 6.5% on a yearly basis, totaling 5.25 billion pesos.

As of May 27, US$1 was equivalent to 19.04 Mexican pesos.