By Eliane Portillo

Credit that provides consumer banking gained a great momentum in 2011. In November reported annual rate growth of 19.7%, with Bank financing to the private sector as the most dynamic, reported the Bank of Mexico (Banxico).

The program, Buen Fin had a positive impact in the growth of the portfolio of consumer credit, which recovered 18% in October to 19.7% in November, but especially in the use of credit cards which from an annual increase of 7.4% in October rose to 8.2% in November. Study said, this increase is the highest since February 2008, which drew a positive effect on the dynamism of the internal market. They added that financial banking activity continued with a favorable performance and looms toward an end of year with positive results.

According to information from the Bank, this annual variation was composed by: The existing credit granted through credit card which rose 9.2% real annual. The existing credit granted for the purchase of durable goods which raised 5.1%.The existing credit in the others category, which mainly includes personal loans via payroll which increased 41.5% annual.

By considering the balance of the portfolio, until November credit via credit cards represented 47% of total, for durable consumption 12.4% of the total and the one of others which contains the personal loans linked to the payroll participated with 40.6% of the total granted.