Record Earnings for Banks in Mexico: 25.2% Growth in First Half of 2023

At the close of the first half of 2023, the earnings of the 50 banks operating in Mexico accumulated 138 thousand 615 million pesosa growth of 25.2% compared to the same period of the previous year, according to figures from the National Banking and Securities Commission (CNBV).

Regulatory data shows that BBVA Mexico led the period with a total of 45 thousand 794 million pesos in profits, equivalent to 33.04% of the total banking system in Mexico. It is followed by Banorte with 20 thousand 673 million pesos, 14.91% of the total, while Santander registered 15 thousand 600 million pesos; 11.25% and Banamex 9 thousand 969 million pesos, equivalent to 7.19% of the total earnings of the banks that operate in Mexico.

According to the CNBVthe current credit portfolio of the financial institutions reached a total of 6 trillion 425 billion pesos, a growth of 9% compared to the first half of 2022.

Meanwhile, the Index of delinquency (IMOR), of the total portfolio of banks in Mexico it was located at 2.18%, a reduction of 0.14 percentage points with respect to the same previous period.

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In detail, the consumer credit portfolio of the 50 banks operating in Mexico reached a total balance of 1.3 trillion pesos, a growth of 18.5% compared to the first half of 2023.

The CNBV figures show a growth in delinquency in consumer credit in the country, which went from 2.90% in the first half of last year to 3.10% at the end of June 2023.

In the case of Credit cards, the balance reached 580 thousand 260 million pesos; a shot of 23.3% compared to the end of the first half of 2022.

Meanwhile, the delinquencies on credit cards rose from 2.55% in June 2022, to 3.04% at the close of the first semester of the current year.

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