Home » Business » BBVA reports an increase in its profits between January and September

BBVA reports an increase in its profits between January and September

In the first nine months of the year, BBVA, the private bank with the greatest presence among those operating in the country, obtained profits of 80,760 million pesos, a figure 5.7 percent higher than the 76,419 million pesos reported. from January to September 2023.

Only from July to September the financial institution obtained profits in the amount of 28,183 million pesos, while in the third quarter of 2023 the amount was 24,879 million pesos, which means an increase of 13.2 percent.

When presenting its financial results, <a href="http://www.world-today-news.com/bbva-mexico-will-place-more-than-30-thousand-mortgages-in-2021/" title="BBVA Mexico will place more than 30 thousand mortgages in 2021″>Eduardo Osuna Osuna, vice president and general director of BBVA Mexico, pointed out that although the results are positive and reflect growth, this is due to the greater number of operations and clients that the bank has and it is already beginning to observe a lower growth rate compared to past years.

There is a good evolution of the business, banking activity continues to grow, and yes, there are 80 billion pesos of net profit, but we have a greater volume; The bank is growing in all aspects, we have more clientshe mentioned at a press conference.

Ignacio de la Luz, general director of finance of BBVA, indicated that the Mexican bank contributed 55 percent of the total profits of the financial consortium internationally, and recalled that currently this entity is one of the entities that pays the most taxes in the national territory. At the end of September, the bank has paid 30 billion pesos in taxes

According to the report, the financial margin – which is obtained mainly from the difference between the interest charged to debtors and those paid to savers – stood at 178,429 million pesos from January to September, a figure of 9.8 percent. higher if compared to the 162,469 million pesos reported in the same period of 2023.

The balance of the credit portfolio stood at one trillion 808 thousand 268 million pesos, which meant an increase of 12.5 percent compared to what was reported between January and September of the previous year, when it was one trillion 607 thousand 896 million pesos. weights.

Osuna Osuna specified that although at this moment the results are positive, the slowdown that is being talked about will be seen in the third quarter of 2025, and it is most likely that credit will only grow by single digits next year.

Investors in moment of understanding and pause

The general director of the bank also indicated that the bank’s investors, businessmen and directors are in a moment of understanding and pause to make decisions, as they wait to see what policies the new government led by President Claudia Sheinbaum will apply.

“We see caution, we have collected that from our clients, both national and foreign; They want to see what the new rules of the game will be. That is the message we are also receiving from regional advisors and foreign investors, and we are talking about long-term investors.

Our message is that we really need to see that these rules are defined and above all that there are structural issues in Mexico that will continue to be there.Osuna added.

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