Mexico City. From January to September, the group of private banks operating in the country obtained profits of 222,657 million pesos, the best result for a similar period since records have been recorded, demonstrate the latest figures released by the National Banking and Investment Commission. Securities (CNBV).
This result in the accumulated result of the first nine months of the year is 8.3 percent higher in nominal terms – without discounting the inflation of the period – if compared to the 205 thousand 432 million that were reported in the same period but the previous year, according to the available data.
The unprecedented result occurs even when the Bank of Mexico (BdeM) has begun to make cuts to the reference rate – the instrument that sets the cost at which companies and families are financed. However, banks resent the cuts, since a year ago the profit growth rate was 17.2 percent.
The seven banks of systemic importance – those that, in the event of bankruptcy, would put the stability of the Mexican financial system at risk – which are BBVA, Santander, Banorte, Citibanamex, HSBC, Inbursa and Scotiabank, concentrated 80 percent of the profits, with a figure that reached 178 thousand 578 million pesos.
The financial margin, which mainly results from the difference between the interest charged to debtors and those paid to savers, reached 634 thousand 103 million pesos, an amount 13.2 percent higher than the 560 billion pesos that were reported in January to September 2023.
In this sense, interest income totaled one trillion 325 thousand 561 million pesos, an amount 11.8 percent higher when compared to what was reported as of September 2023, which was one trillion 184 thousand 704 million pesos.
For its part, interest expenses amounted to 691,458 million pesos, while a year ago the figure was 624,703 million pesos, which represented an increase of 10.6 percent.
According to statistics, the balance of the total credit portfolio stood at seven trillion 341 billion pesos, an amount 10.4 percent when compared to the six trillion 6 trillion 658 thousand 265 million reported until September 2023.
The delinquency rate stood at 2.06 percent, which implied a decrease of 0.09 percentage points compared to the 2.15 percent reported in September of last year.
!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, document,’script’,
‘
fbq(‘init’, ‘133913093805922’);
fbq(‘track’, ‘PageView’);
fbq(‘track’, ‘Contact’);
fbq(‘track’, ‘Donate’);
fbq(‘track’, ‘FindLocation’);
fbq(‘track’, ‘Lead’);
fbq(‘track’, ‘Search’);
fbq(‘track’, ‘Subscribe’, {value: ‘0.00’, currency: ‘MXN’, predicted_ltv: ‘0.00’});
fbq(‘track’, ‘ViewContent’);
#Banks #earned #million #pesos #September #CNBV
–
