Through the first half of the yr, Santander México earned income of 14,769 million pesos, which represented a lower of 5.3 p.c in comparison with the 15,593 million reported from January to June 2023.
Through the second quarter of the yr alone, the monetary establishment’s income reached 7,898 million pesos, an quantity 0.9 p.c decrease than the 7,967 million pesos obtained from April to June, however final yr.
Santander’s second quarter earnings report particulars that the drop in income throughout the first half of the yr is because of a rise within the creation of reserves for attainable losses, particularly in financing that’s destined for Mexican households; in addition to a rise in bills for promotion, remuneration and advantages for its workers.
In accordance with the doc despatched this Thursday to the Mexican Inventory Alternate (BMV), throughout the second quarter of the yr, the financial institution created reserves for attainable losses for five,633 million pesos, which implied a rise of 26.9 p.c in comparison with what was reported in the identical interval final yr.
Thus, from January to June, the creation of credit score reserves totaled 12,218 million pesos, an quantity 36.5 p.c larger in comparison with the 8,951 million reported in the identical interval of 2023.
The monetary margin, which is the distinction between the curiosity charged to debtors and the curiosity paid to savers, stood at 21,852 million pesos from April to June, 5.7 p.c larger than the 20,668 million reported in the identical interval final yr.
Thus, the monetary margin within the accrued whole for the primary 6 months of the yr reached 43,694 million pesos, an quantity 7 p.c larger than the 40,840 million reported within the first half of 2023.
Curiosity earnings throughout the second quarter totaled 50.275 billion pesos, and accrued 100.111 billion pesos from January to June. This represented will increase of three.2 and seven.9 p.c in comparison with the identical durations of the earlier yr.
In the meantime, expenditures amounted to twenty-eight,423 million pesos from April to June, and accrued 56,417 million pesos within the first half of the yr, quantities 1.4 and eight.5 p.c larger, respectively.
Credit score portfolio will increase
The report signifies that the whole credit score portfolio stability stood at 874,313 million pesos, 6.6 p.c larger than the 820,687 million reported between January and June 2023.
On this regard, loans to people, which embody shopper loans and mortgages, totaled a portfolio of 421 thousand 75 million pesos, an quantity 10.4 p.c larger than the 381 thousand 400 million reported within the first half of final yr.
The stability of the patron financing portfolio (which incorporates bank cards) stood at 190,645 million pesos; whereas that of mortgages was 230,430 million pesos. In each instances, there was a rise of 14.5 and seven.3 p.c, respectively, within the reference interval.
The industrial credit score portfolio, which incorporates enterprise loans, loans to small and medium-sized companies, companies and governments, reached 453,238 million pesos, an quantity 3.2 p.c larger than the 439,287 million reported from January to June of final yr.
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– 2024-07-28 06:28:20
