La Jornada: The growth of bank deposits decreased in the first semester

The main business of private banks, raising resources from the public, is experiencing pressures derived from the lower interest rates in the country.

At the end of the first half of the year, the balances of bank deposits – all the resources they obtain through the deposits made by their clients – grew at a rate just above 2 percent, according to figures from the National Banking and Securities Commission.

This growth rate is lower than that observed in the same period of the last two years: in 2025, the advance was 3.7 percent, while in 2024 it increased to a level of 4 percentage points.

It is no coincidence: banks saw an increase in deposits while the Bank of Mexico’s interest rate – the instrument that guides market rates – was at high levels, but this year, with the reductions, deposit balances are advancing at a slower pace.

According to the information available, from January to June 2026, the balance of total bank deposits amounted to 9 trillion 641 thousand 583 million pesos, an amount 2.3 percent higher in real terms compared to what was reported in the same period last year.

The pace of growth has decreased in recent years in line with the cuts to the central bank’s reference rate: at the end of the first half of 2024 it stood at 11 percent; At the end of the same period in 2025, it was at 8, and in June of this year, it stood at 6.5 percentage points.

When rates are at high levels, banks can offer higher returns on deposits, which incentivizes people to keep their resources in savings accounts and financial instruments.

When these fall, these returns also decrease and some savers may look for other options to place their money.

Likewise, most of the deposits that the public makes in banks are immediately available, that is, they can be withdrawn at any time even if they offer lower returns.

The balance of these resources at the end of June was 6 trillion 96 thousand 484 million pesos, and they represent just over 60 percent of the total bank deposit portfolio, according to the data.

The amount was 1.33 percent higher than what was reported during the first half of last year.

The growth rates in this type of resources were also lower compared to the last two years: in 2024 they advanced at a rate of 4.7 percent, and in 2025 the increase was 3.7.

Banks raise money from the public through deposits and, subsequently, use a part of those resources to grant loans to families and companies.

In practice, lower growth in deposits means that they incorporate new resources at a slower pace, which can limit the money available to finance families and companies.