Non‑food bank credit fell, but non‑bank funding rose, increasing total financial flow to commercial sector.

• Credit slowdown due to higher risk‑weight rules limiting unsecured lending, targeting financial stability in banks.
• Equity issuances surged thanks to a buoyant domestic market, boosting non‑bank financing contributions significantly for growth.
• Short‑term external credit rose, reflecting import rebound, further expanding total credit as GDP share overall.