The credit granted by banks for the acquisition of homes by families slowed in May 2021 and only grew at an annual rate of 2.7 percent, a year after the worst moment of the pandemic crisis.

For its part, the balance of the overdue portfolio of the credit portfolio has increased by 37 percent in the last year, confirm the figures of the National Banking and Securities Commission (CNBV) and the Bank of Mexico.

The balance of the overdue portfolio reported by financial entities in this loan portfolio until May was 37 thousand 369 million pesos, and a year ago the figure was 27 thousand 261 million.

Query: Fovissste can grant loans of more than 4 million pesos for housing

According to information from the Commission, in the fifth month of the year, the banks' current financing portfolio for housing reached an amount of 990 billion pesos, while in May 2020 the figure was 910 billion.

However, when comparing with 2020, home financing grew at a rate of 6.3 percent. It is one of the credit segments that throughout 2020 practically kept the financing that credit institutions grant to households afloat.

By financial institutions, BBVA Mexico reported an outstanding balance for an amount of 292 thousand 281 million pesos that represented a decrease of 1.4 percent compared to May of the previous year.

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Santander reported an outstanding balance of 114 thousand 643 million pesos that implied an increase of 1.8 percent compared to last year, while in Citibanamex the reported figure was 156 thousand 342 million, a decrease of 14.4 percent in the period of reference.

Banorte reported to the regulator the figure of 121 thousand 342 million pesos, reflecting an increase of 2.3 percent compared to the fifth month of 2020, while HSBC the amount reached 62 thousand 919 million pesos, indicating a reduction of 2.6 percent in the reference period.

We closed with Scotiabank with a portfolio in force until May of 38 thousand 262 million pesos, a decrease of 12.5 percent compared to May 2020.

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Original Note