Overview of Credit Growth in Mexico’s Commercial Banking Sector
The credit extended by Mexico’s commercial banks to the private sector closed 2025 with a growth rate of 2.6%, marking its lowest level since May 2022, when Mexico was emerging from the pandemic with a 2.2% growth rate, according to data from Banxico.
Overall Credit Growth
Throughout 2025, the credit growth displayed a decreasing trend, aligning with monthly observations showing lesser dynamism. In December, the existing credit of commercial banks to the private sector grew by 2.6% annually in real terms, down from 3.2% in November. This resulted in a credit portfolio exceeding 7.25 trillion pesos.
Business Credit: Strongest Desceleration
At the end of 2025, the credit portfolio allocated to businesses and physical persons engaged in commercial activities exhibited the most significant deceleration, growing by 0.6% annually in December compared to 1.7% in the previous month, reaching over 3.72 trillion pesos.
- This portfolio had been losing momentum throughout 2025, as it started with an 11.5% growth rate in January and subsequently declined.
- The annual real growth for this credit sector was at its lowest since April 2022, with a 1.2% decrease.
- The decline in the business credit portfolio was influenced by a 25.7% real annual drop in the electricity, water, and gas sector; a 19.0% decrease in mining; and a 9.4% reduction in agriculture, forestry, and fishing, as per the document.
Consumer Credit: Highest Growth; Housing Credit: Slight Recovery
The credit portfolio for consumer spending continued to show the highest growth in December 2025, with a 7.9% annual real growth rate, although it also experienced deceleration, as the November increase was 8.0%. The portfolio’s total surpassed 1.87 trillion pesos.
- Within this segment, credit cards grew by 7.2% (from 6.6% in November), payroll credits increased by 4.9% (from 4.8%), and personal loans grew by 8.0% (from 8.4%).
- Durable consumer goods credit grew by 13.3% in December (from 13.9% the previous month).
- The primary segment of this portfolio, automotive credit, grew by 14.5% during the period, down from 15.3% in November.
- Housing credit grew by 1.5% annually in December (from 1.4% in November), resulting in a portfolio worth over 1.49 trillion pesos.
Credit for Intermediary Financial Institutions
The credit portfolio for non-bank financial intermediaries grew by 4.6% during the period, up from 1.8% in November, reaching over 161 billion pesos.
Experts’ Perspectives
According to experts, the reduced dynamism in credit growth within Mexico’s commercial banking sector in 2025 can be attributed to a slower economy, employment, and investments.
