In 2024, there was a notable increase in joint account holding and foreign currency account holding among the adult population. Sixty-nine percent of adults held accounts with both financial institutions (FIs) and payment service providers (PSPs), while the share of adults with foreign currency accounts rose from 44% to 51%. This occurred within a context that incentivized foreign currency means of payment.
A significant number of account holders were active in their transactions. In the fourth quarter of 2024, 28.8 million, or 77.5%, of account holders recorded movements. Of these, eighteen million conducted transactions through both FIs and PSPs, indicating that users are leveraging both options for account interoperability.
Electronic payments continued to gain traction as cash usage declined. The adult population made an average of more than 28 electronic payments per month in 2024, marking a 45% increase compared to the same period in 2023. This trend was evident in sectors such as supermarkets, household appliance stores, and e-commerce.
Money market funds (MMFs) and foreign currency deposits emerged as dynamic savings and investment products among individuals. Payment accounts with balances at MMFs increased from 13.8 million in December 2023 to 22.4 million by December 2024. By the end of the year, it is estimated that at least 53.7% of people with payment accounts held balances at MMFs. Foreign currency balances at bank accounts also stood out due to the Asset Regularization Regime, reaching a share of 31.2% in total savings and investment products.
Regarding credit for individuals, there was an expansion in the number of debtors and greater use of credit among existing borrowers. Between July and December, there were net additions of 1.3 million new debtors—a higher figure than previous periods—and half of all borrowers increased their balances significantly during this time.
Credit to micro, small, and medium enterprises (MSMEs) did not show significant changes concerning company financing shares compared to December 2023; however, there was greater credit utilization observed among companies increasing their stocks of financing after two years' decline.
In housing finance during 2024, around ten thousand individuals took mortgage loans—almost tripling those who did so in 2023—with most loans granted to formally employed individuals living where rental homes are prevalent or belonging within age groups showing higher labor market activity levels.
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