The overdue portfolio of loans to families reaches a record

At the end of November 2024, the balance of the overdue portfolio of loans that private banks allocate for family consumption reached its highest level since records began, standing at 46,343 million pesos, according to information from the Bank of Mexico (BdeM).

These are financing granted through products such as credit cards, payroll or personal loans, which have not received any payment in 90 days or more.

The balance in past due loans is 1.9 percent higher in real terms when compared to the 43,481 million pesos reported in November 2023.

The increase in the overdue portfolio occurs at a time when banks reported a current portfolio of one trillion 681 billion pesos in consumer loans.

As a proportion of the current portfolio, the past due consumer financing portfolio represents 2.7 percent.

More cards

In the credit cards section, the overdue balance stood at 17,298 million pesos in November, a figure 5.3 percent higher in real terms when compared to the 15,711 million reported in the eleventh month of 2023.

According to the central bank, the balance of the current portfolio of this product reached an amount of 629 billion pesos in November; The overdue balance is equivalent to 2.7 percent and is also the highest amount since there are records in the Bank of Mexico (July 2009).

November is one of the months with the most transactions in the Mexican financial system, as a result of sales such as El Buen Fin and the start of shopping for the end of the year festivities.

Traditionally, consumers use their credit cards during this period of the year as the main means of leverage, due to promotions offered by banks or department stores, such as interest-free months or buy now and pay later.

Personal loans and loans collected via payroll

The BdeM information indicates that the past due portfolio in loans discounted to workers through their payrolls reached a balance of 11,225 million pesos, an amount 7.2 percent lower than the 11,602 million pesos reported in November. of 2023.

For its part, the overdue balance of personal financing reached 11,766 million pesos, while in November 2023 the amount was 11,196 million pesos, which shows a decrease of 0.5 percent.