At the end of the first quarter of 2023, the banks that operate in the country added profits of 70,035 million pesos, a figure 31.72% higher than the 53,151 million registered in the same period of 2022.
In the presentation of quarterly results a few days ago, different banks explained that the positive results in their profits responded, in part, to higher interest income, as well as to greater credit activity, due to a good performance of the economy.
According to information from the National Banking and Securities Commission (CNBV) released on Wednesday, BBVA and Banorte were the banks that had the highest profit in the quarter with 22,886 million and 10,309 million pesos, respectively.
These were followed by Santander, with 7,641 million pesos at the end of the first quarter, and Inbursa with 5,474 million.
Then Banamex was located with 3,654 million pesos; Scotiabank with 2,995 million; BanBajío with 2,691 million, and HSBC with 2,063 million.
These eight banks added a profit of 57,714 million pesos at the end of March, which represented 82.4% of the total earnings for the sector.
Other banks that registered profits above 1,000 million at the end of March were American Express with 1,934 million; Banregio with 1,181 million and Banco Azteca with 1,087 million. Compartamos Banco had a net result of 1,000 million in the period.
Meanwhile, those that continued with losses at the end of the first quarter of 2023 were ABC Capital, which registered a negative result of 184 million pesos; Where Bank of 20 million; Pagatodo of 14 million and Forjadores of 6 million.
the three biggest
An analysis published this Thursday by Moody’s Local Mexico highlighted the solid results reported by the three largest banks (BBVA, Banorte and Santander).
In this sense, the rating agency estimated that the strong profitability of these three institutions will be maintained for the rest of the year, supported by limited credit costs and wide interest margins.
BBVA portfolio, above $1.5 trillion
Regarding the total credit portfolio, that of BBVA Mexico stood at 1.54 trillion pesos at the end of March, against 1.36 trillion in the same month of 2022.
In second place was Banorte with a total portfolio of 939.279 million pesos; and then Santander with 810,655 million; Banamex with 595,755 million; Scotiabank with 491,121 million; and HSBC with 430,546 million.
These six banks concentrated 76% of the total banking portfolio at the end of the first quarter.
Regarding deposits, BBVA also remained in the lead with more than 1.70 trillion pesos raised, followed by Santander with 1.02 trillion pesos.
Then there were Banorte with 951,586 million pesos; Banamex with 933,953 million; Scotiabank with 521,533 million and HSBC with 515,584 million. Between the six they accounted for 74.2% of the total for this item.
Everything indicates that the crisis in the sector that occurred in the United States had no impact in Mexico, at a time when high interest rates favor business; specialists anticipate that delinquency will increase.
