Business and Financial Needs

The credit portfolio of commercial banking in 2011 will grow between 15 and 20 percent, since February has shown a rapid progress, standing at 12 percent in 2010 after it reported a drop of 2 percent. Ignacio Deschamps, president of the Association of Banks of Mexico (ABM), said in a press conference in the work of the Convention 74 Banking, credit to the second month of the year grew 13 percent to 19 percent SMEs , housing consumption by 9 percent and 10 percent compared to February 2010, with a given amount of 2 billion 58 billion pesos.

In making the presentation of evolution and prospects of the Bank, said the credit grew last year from 10 percent in November, which was the goal set, and because that rate is maintained in the loan portfolio has accelerated this growth, standing at 12 percent.

He said the credit to GDP has remained and has grown slightly, and therefore there is no structural damage and continue with the growth of credit penetration in GDP in 2011.

No clutch, said that in the extension of credit is to grow healthily, because in economies where credit is 100 percent and more are an important process called “deleveraging” or “debt reduction”, which obviously has an economic impact on the growth.

Accompanied by the chief executive, Luis Robles Miaja, and vice Enrique Zorrilla, Luis Peña Kegel and Luis Niño de Rivera, the manager explained that the credit component companies in February grew 13 percent and 19 percent of SMEs that was the most dynamic.

He said the housing finance sector has continued to grow, even during the crisis, and in February this year has already 9 per cent growth, but the best news is that consumer credit reached double digits and this is significant, since it came to be 16 percent year at the worst time in February and stood at 10 percent recovery, thanks to a great Christmas season and New Year.

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